DLF may raise Rs 2k cr from PEs
The funds that the company is talking to include Carlyle, Merrill Lynch, JP Morgan and Crown Capital. The deal will be formally signed by the end of the month.
By TNN |
NEW DELHI: DLF, India’s largest real estate firm, is in talks with private equity funds for raising about Rs 2,000 crore. The funds that the company is talking to include Carlyle, Merrill Lynch, JP Morgan and Crown Capital. The deal will be formally signed by the end of the month.
It is not yet clear, whether the investments by the PE funds will be made at an entity level in the company, or it will be in specific projects. The matter will be discussed in the company’s board meeting, slated for October 11.
Sources say that the company will use the proceeds of the deal for developing its ongoing projects, mainly the ambitious New Bangalore township, which was recently awarded to the company by the Karnataka government. This project will be developed by the company with an investment of Rs 60,000 crore in a 50:50 joint venture with the Dubai-based Limitless Holdings, part of the Nakheel Group.
It is not yet clear, whether the investments by the PE funds will be made at an entity level in the company, or it will be in specific projects. The matter will be discussed in the company’s board meeting, slated for October 11.
Sources say that the company will use the proceeds of the deal for developing its ongoing projects, mainly the ambitious New Bangalore township, which was recently awarded to the company by the Karnataka government. This project will be developed by the company with an investment of Rs 60,000 crore in a 50:50 joint venture with the Dubai-based Limitless Holdings, part of the Nakheel Group.
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