Real estate major DLF plans to raise $5 billion over the next three years by listing five of its business units, including DLF Homes, DLF Retail, DLF Hotels, DLF Utilities and DLF Infrastructure. There are no plans to further dilute equity in group flagship DLF. The eventual strategy is to make DLF a holding company with considerable equity stakes in the listed entities in addition to being an incubator for new businesses.
In all, the company is looking at a fund infusion of $10-12 billion in its various businesses over the next three years.The $5-billion group will raise the fund through domestic IPOs in addition to Singapore listing of DLF Assets (DAL)(Related story), the company which own the office space development and management business of the group. At present, the company is awaiting regulatory approvals for this IPO.All other business units of the company are expected to be listed in Indian capital markets only.
Read more in The Economic Times article.
No comments:
Post a Comment