DLF, which is shortly entering the capital markets for raising around Rs 9,000 crore, is planning to float three private equity funds totalling $8 billion this August. The funds will be syndicated to foreign investors and are likely to close by December.
The three funds will finance the companys projects including infrastructure development such as roads and highways (a $2 billion fund), super luxury hotels ($1 billion) and two integrated townships of 20,000 acres each ($5 billion) by the DLF-Nakheel joint venture company.
While the IPO proceeds would be utilised for financing DLF projects, the raised capital is not expected to cover the companys aggressive expansion plans. This is why DLF is looking at the fund route.
More : business-standard.com
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