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Mar 06, 2013
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DLF board to meet tomorrow to consider share sale
Realty major DLF’s board of directors will meet on Tuesday to consider issues of over eight crore fresh equity shares, worth more than Rs. 2,000 crore, to meet SEBI’s guidelines on minimum public shareholding.According to sources, DLF is likely to offer over 8 crore of shares, worth more than Rs 2,000 crore at current market price, through institutional placement programme (IPP) route.The issue is likely to hit market next month.As per market regulator SEBI norms, private sector firms should have a minimum 25 per cent public shareholding by June this year.In a filing to the BSE, DLF informed that “a meeting of the board of directors of the company will be held on March 6, to consider offer of securities and all related actions thereto... for achieving the minimum public shareholding.”The board would consider calling of an extra ordinary general meeting on April 4, to seek shareholders approval for the above purpose, it added.The fresh equity of shares would lead to re
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http://www.thehindu.com
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