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DLF aims at the public issue to manage more funds

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As per the source available to www.propertykhazana.com, in Indian Realty market DLF Ltd. is famous and it has proclaimed to invest Rs. 3,500 Crores for development of its property funds. Company has proposals to hike Rs. 9,625 Crores during the public factor of Rs. 1.75 Crores shares in rate band of Rs. 500-550 among June 11th & 14th.
New shares will include 10.27% of DLF’s post-scale capital and auction of shares on offer will shove company’s market value to spot $24 Billion over double the Unitech’s, India’s largest realty developer. Total property bank accessible with DLF was about 5,269 acres which is situated in NCR while 2,708 acres in other main cities and 2,278 acres in rest of the country. Present property funds of the company is sufficient for its proposed realty ventures for the coming 10 years and realty main sees building property funds at cost efficient rates at potential places in the country to get from them through advantage in the economy, said DLF VC Rajiv Singh to the www.propertykhazana.com.
In the meantime, it is further added by the sources at the www.propertykhazana.com that at present there are 11.3% of property funds with DLF and its supplementary and company has only development rights for 44.6% of the total. As well, company has letters of approval for 35.9% of property, while the rest are combined developments with associates. DLF is endorsed by Billionaire Kushal Pal Singh, whose rich doubled previous year to $10 Billion. 75 year old Singh is the former Indian Army Officer purchased property in Gurgaon, 27 Km south of central New Delhi in 1980s. Now he is the owner of DLF owning 99.5% of parent DLF Universal with his family and worth $10 Billion.
Source: NIMMA BENGALURU

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