DLF shares rose over 2 per cent on Tuesday after reports said that big private equity players have shown strong interest to buy 40 per cent stake in the realty major's rental arm.
Blackstone Group, GIC and Brookfield Asset Management have separately submitted over $1 billion bids to acquire 40 per cent stake in the Gurgaon-based realty major's commercial property unit, reports said.
DLF had in October announced that its promoters will reduce their stake in the DLF Cyber City Developers Ltd (DCCDL), which holds the bulk of its rent-yielding office and retail complexes.
Analysts say the deal, which is expected to generate around Rs 12,000 crore to Rs 14,000 crore, will help DLF reduce its debt burden.
DLF shares closed 1.64 per cent higher at Rs 132.55 compared to a flat Sensex.
(With agency inputs)
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
