Billionaire real estate tycoon K P Singh, whose flagship firm DLF recently went public with India's largest IPO, is looking to list his another closely held group company DLF Assets with a one billion dollar issue.DLF Assets is expected to file for REIT (real estate investment trust) IPO in Singapore next month, the company sources said.
DLF Assets, which has been set up for holding completed commercial assets, is owned by DLF Ltd's promoters. It is independent of DLF Ltd. DAPL was set up for bidding along with other companies in potential assets sales by DLF Ltd.
DLF Assets Pvt Ltd (DAPL) had earlier received an investment of 400 million dollars and 200 million dollars from global investing firm D E Shaw and a fund sponsored by investment banking firm Lehman Brothers respectively.
Read more in The Economic Times article.
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