DCCDL Raises Rs 1,100 Crore via Non-Convertible Debentures
DLF's rental subsidiary DCCDL has raised Rs 1,100 crore by issuing non-convertible debentures. The move comes as part of a private placement to eligible investors, with a coupon rate of 6.91% per annum. This transaction highlights DCCDL's ongoing growth and substantial commercial real estate portfolio.
- Country:
- India
Real estate giant DLF's rental subsidiary, DCCDL, has successfully secured Rs 1,100 crore through its latest issue of non-convertible debentures. The private placement issuance reflects the company's financial strategy to boost its operations.
A regulatory filing disclosed on Tuesday revealed that DLF Cyber City Developers Ltd's securities allotment committee had sanctioned the allocation of 1,10,000 NCDs, gathering an aggregate sum of Rs 1,100 crore. This issuance comes with a 6.91% annual coupon rate, paid quarterly, and targets eligible investors.
Jointly owned by DLF and Singapore's GIC, DCCDL manages a vast operational portfolio of 44 million square feet across key cities. The company reported a 26% increase in net profit during the June quarter, underlined by an improvement in total income attributable to its expansive commercial assets.
(With inputs from agencies.)
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