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KP Singh put up for sale USD 778 Million Shares

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As per to the sources saying @ the www.propertykhazana.com, DLF Ltd. sold its shares worth Rs. 39 Billion to institutional investors, as the country’s stock market had collided in recent years. K P Singh who is the richest one among India sold his share up to 10% to diminish the family holding to 80% to take the benefit of an upturn in the market during national elections. Reported sources said at the www.propertykhazana.com that, DLF was badly hit by the global financial recession in India, other stressed firms like Unitech sold it shares worth USD 350 Million and wind turbine maker Suzlon Energy sold stock worth USD 50 Million. India’s stock market was the most strongest in the world for fresh equity offerings, by concluding as the country’s largest listing and the initial public offering of Reliance Power.
Renewal has sustained certainty that a secured government will add power once the results of national elections are proclaimed; it also indicates the revival in the economy. A chief Economist said to www.propertykhazana.com that, “We are anticipating the growth to rise in the 2nd half of the FY, but it counts on the policies of the new Govt. and also the purging of the doubt that this election has been sourcing.” DLF sold its 170 shares for Rs. 240 per share in the block deal, below half the price of its IPO when it sold for Rs. 530 each. The firm’s market funding is USD 8.5 Billion, earlier in January it was USD 25 Billion, DLF shares has been closed by less than 1.60% at Rs. 235 and boarder Sensex Index closed at 1.20% at 12,020 points. For more updates on realty market browse www.propertykhazana.com.
Source: NBTVLIVE

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