DLF may raise up to Rs 10,000 cr

Will move resolution at AGM next month

NEW DELHI: DLF Ltd, the largest Indian developer, may raise up to Rs 10,000 crore for its development plans through placements with institutions and qualified institutional buyers.

A decision is expected by  the end of next month.

The Delhi-based developer will discuss the resolution in its annual general meeting by September end, and is expected to get the approval for the fund raising.

“These are enabling resolutions. We will take shareholder approval and be ready … so if and when we want to use that money, we could use it,” DLF’s chief financial officer Ramesh Sanka told DNA Money.

DLF needs to take shareholder approval for any money it raises, a process that could take 40-45 days.