India’s largest real estate firm DLF is expecting to receive expressions of interest from prospective investors for the sale of its promoters’ 40% stake in the company’s rental arm DLF Cyber City Developers (DCCDL) over the next two weeks. It plans to finalise the buyer over the next two months and close the transaction latest by the end of the current financial. It had circulated the information memorandum to potential investors in April. DLF had said in October last year that its promoters would sell their 40% stake in the company’s rental arm, which is expected to fetch around Rs 12,000-14,000 crore and of this, they would reinvest a substantial sum back into the company after paying tax and other charges.
Read more: Economic Times