DLF's Pia Singh sells shares worth Rs 147cr to other promoters

NEW DELHI: Realty giant DLF said Pia Singh, one of the promoters and daughter of Chairman K P Singh, has sold 60.89 lakh shares of the company to other promoter entities for about Rs 147 crore.

Pia Singh, a whole-time director on the company's board, had 2.28 per cent stake in DLF at the end of first quarter of this fiscal and she sold 60.89 lakh shares worth 0.36 per cent stake through a block deal at National Stock Exchange on July 20, according to a filing on the Bombay Stock Exchange.

The sale value for the transaction was Rs 146.75 crore, it added. Post this transaction, Pia Singh has 1.92 per cent stake in the company.

The transaction was an inter-promoter transfer of shares, which were acquired by Kavita Singh, wife of Pia's brother and company Vice Chairman Rajiv Singh, and four other promoter entities.

The share were sold for a price of Rs 241 per share. Promoters have 78.63 per cent stake in DLF, the country's largest real estate firm. DLF shares today closed at Rs 241.65, down by 0.86 per cent from the previous day.

Pia Singh is actively engaged in developing luxury and super-luxury retail destinations across the country.