The promoters of DLF are in advanced discussions with shortlisted investors to sell their 40% stake in the realty developer’s rental arm, DLF Cyber City Developers (DCCDL), its management said.
The final bids will be presented to a committee of independent directors for the evaluation and making the final decision, they told analysts on an earnings conference call.
According to the company, the progress on this transaction has been a bit slow given its size and complexities. While discussions are currently ongoing, there are a few factors that need to be sorted out and these include the rental arm’s future development potential of around 20 million sq ft.
Read more: ETRealty