DLF builds on QIP

about 2 months ago
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DLF is figuring among the top gainers on the BSE, going up over 6.75% to Rs.202.20. The stock has gained after 2 days of consecutive fall.

The stock price is reacting positively to the news that the real-estate developer will raise around Rs 3,000 crore through QIP at a floor price of Rs 193.01 per equity share. The stock had closed yesterday at Rs.189.40. The QIP opened yesterday.

The aim of the QIP is to help it bring down its debt. Its current debt stands at Rs.7,224 crore till December 2018. 

The QIP is also aimed at maintaining minimum public shareholding norm of 25%.

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