India: DLF promoters to sell 40% stake in rental arm

India: DLF promoters to sell 40% stake in rental arm

The move facilitates the monetizing of the company’s rental assets through a stake sale to private equity investors or a Real Estate Investment Trust (REIT), and will also effectively reduce the debt on DLF’s books. Photo: Ramesh Pathania/Mint

Promoters of DLF Ltd, India’s largest developer by market value, will sell their 40% stake in a subsidiary that owns many of the company’s rent-generating assets and a few land assets to institutional, third-party investors, the company said on Thursday.

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