DLF to raise Rs 5,850 cr debt

October 12, 2007	(1 votes, average: 5 out of 5)  Loading ...
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Indian real estate giant DLF will raise $1.5 billion of debt abroad. Around $750 million will be used as proceedings to capitalize the company’s expansion, both abroad and in India.

The balance will be used to pick up a stake in DLF Assets’ proposed IPO on the Singapore stock exchange.

It will list as a real estate investment trust (REIT) under the name of DLF Offices Trust. The IPO is likely to hit the Singapore market in January next year.

DLF Assets is serving as an asset management company. It has been started by Mr. K P Singh. The fund will apply for listing on the Singapore stock exchange in near future.

The DLF board has passed a resolution which allows the company to raise debt up to $1.5 billion through a wholly owned overseas subsidiary. As far as the potential market from where loan is to be raised, there are several destinations including Mauritius, Cyprus, and others.

Citing the reasons for why the company has chosen Singapore, the city is emerging as upcoming regional hub for real estate companies.  Apart from Singapore, companies from Hong Kong and other Southeast Asian nations are also showing interest to list.

News Published Under:   Real Estate Developers |

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