Realty giant DLF today said Pia Singh, one of the promoters and daughter of Chairman KP Singh, has sold 6.089 million shares of the company to other promoter entities for about Rs 147 crore.
Pia Singh, a whole-time director on the company's board, had 2.28% stake in DLF at the end of first quarter of this fiscal and she sold 6.089 million shares worth 0.36% stake through a block deal at the National Stock Exchange on July 20, according to a filing on the Bombay Stock Exchange.
The sale value for the transaction was Rs 146.75 crore, it added. Post this transaction, Pia Singh has 1.92% stake in the company.
The transaction was an inter-promoter transfer of shares, which were acquired by Kavita Singh, wife of Pia's brother and company Vice Chairman Rajiv Singh, and four other promoter entities.
The share were sold for a price of Rs 241 per share.
Promoters have 78.63% stake in DLF, the country's largest real estate firm. DLF shares today closed at Rs 241.65, down by 0.86% from the previous day.
Pia Singh is actively engaged in developing luxury and super-luxury retail destinations across the country.