DLF gets fund infusion

DLF is doing pretty well today. It rose over 2.5% to Rs.190.25 but on a year-to-date basis, the stock is down 10.6%. Its 52-week high is at Rs.223.40 and low at Rs.141.20.

The stock is up on news that it has allotted equity, on a preferential basis, to entities belonging to promoter /promoter group.

DLF board has now allotted 138.1 million equity shares at Rs 217.25 each against the convertible debentures. Earlier in May, the board had issued 130 million shares at the same rate. The promoters will now have 268.1 million new equity shares in their possession since March 31 with the current infusion.

Post this, the paid-up equity share capital of the Company stands increased to Rs. 495.06 crore comprising 247,53,11,706 Equity Shares having face value of Rs. 2/- each. The total shareholding of the promoter/ promoter group entities would stand increased to 74.95% from 73.47%.