Stake sale in DLF rental arm may get over by July

NEW DELHI: The promoters of India’s real estate firm DLF could sign a term sheet for the sale of their 40% stake in DLF’s rental arm DLF Cyber City Developers Ltd by the end of March or mid-April and complete the sale by July.

“Five different investors — pension funds, sovereign funds and private equity funds — have evinced interest and are willing to put the full cheque of the transaction. There are others who would like to come in the form of a consortium,” said Saurabh Chawla, senior executive director finance at DLF in a call with analysts on Wednesday.

“We have more than 25 global investors who have evinced interest,” he said.