<article>Singapore&#8217;s sovereign wealth fund <a href="https://www.dealstreetasia.com/?s=GIC" target="_blank" rel="noopener noreferrer">GIC</a> has offloaded shares worth $186 million (Rs 1,298 crore) of Indian real estate developer <a href="https://www.dealstreetasia.com/?s=DLF Ltd." target="_blank" rel="noopener noreferrer">DLF Ltd.</a>, according to bulk deal data available on NSE.</article>

Singapore&#8217;s sovereign wealth fund <a href="https://www.dealstreetasia.com/?s=GIC" target="_blank" rel="noopener noreferrer">GIC</a> has offloaded shares worth $186 million (Rs 1,298 crore) of Indian real estate developer <a href="https://www.dealstreetasia.com/?s=DLF Ltd." target="_blank" rel="noopener noreferrer">DLF Ltd.</a>, according to bulk deal data available on NSE.
GIC on Monday sold 6.8 crore shares of DLF at Rs 191.01 per share through an open market transaction. The Singapore wealth fund held about 7.32 crore shares, equivalent to a 4.11 per cent stake, in DLF as on December 31, 2018.
French investment fund Societe Generale picked up 2.08 crore shares of DLF at Rs 191 per share, the data showed.
A PTI report quoting sources said that the Singapore fund is likely to have sold its share to rejig its portfolio and book profits.
GIC had picked up a 33.34 per cent stake in DLF&#8217;s rental arm for around Rs 8,900 crore in December 2017. In August the same year, the promoters sold the entire 40 per cent stake in DLF Cyber City Developers Ltd for Rs 11,900 crore, the proceeds of which were to be infused into DLF, primarily for debt reduction. The transaction involved the stake sale to GIC and buyback of remaining shares worth Rs 3,000 crore by DLF Cyber City.
Last month, DLF announced plans to raise an estimated Rs 3,000 crore through the sale of equity shares to qualified institutional investors. The issue, which it expects to complete by June this year, would help the company significantly reduce its debt that stood at around Rs 7,200 crore as on December 31, 2018, PTI earlier reported.
DLF promoters K P Singh and family have already infused Rs 9,000 crore in the company and would pump in Rs 2,250 crore more.
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<a href="https://www.dealstreetasia.com/stories/dlf-says-stake-sale-gic-will-lead-2b-capital-infusion-november-81137/">DLF stake sale to Singapore GIC will lead to $2b capital infusion by Nov</a>

Singapore’s sovereign wealth fund GIC has offloaded shares worth $186 million of Indian real estate developer DLF Ltd., according to bulk deal data available on NSE.

Singapore's GIC offloads shares worth $186m in Indian realty major DLF

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Singapore's GIC offloads shares worth $186m in Indian realty major DLF

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