DLF Promoter Group sells 168 million shares

DLF Ltd has announced that the Promoter Group of the Company that some members of the Promoter Group intend to sell approximately 168 million equity shares of DLF held by them and propose to use the net proceeds (net of costs, expenses and taxes, etc.) thereof to infuse capital in DLF Assets Pvt Ltd ("DAL") by subscription of an appropriate instrument, or otherwise, which monies shall be utilized by DAL to meet its contractual obligations towards DLF and its subsidiaries and towards the purchase of D.E.Shaw's interest in DAL.

The DLF stock closed the day at Rs.232.50, down by Rs.3.75 or 1.59%. The stock hit an intraday high of Rs.254.90 and low of Rs.229.60.

The total traded quantity was 179845440 compared to 2 week average of 5903604.

Source : Equity Bulls

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