DLF seeks nod from shareholders to raise up to Rs 5,000 crore

Written by PTI | New Delhi | Updated: Aug 5 2014, 06:38am hrs
India's largest realty firm DLF has sought shareholders' approval to raise up to Rs 5,000 crore through private placement of non-convertible debentures.

In a filing to the BSE, DLF informed that shareholders nod has been sought through postal ballot for reducing borrowing power of the company's board of directors to R30,000 crore from earlier R50,000 crore.

To augment long-term resources for business needs, DLF said the shareholders consent has been sought to authorise the Board to offer NCDs (Non-Convertible Debentures) in one or more tranches up to R5,000 crore through private placement.