US-based foreign fund Oppenheimer hikes stake in DLF to 5.18%

Realty major DLF today said that US-based foreign fund Oppenheimer has increased its stake in the company to 5.18%, which is worth nearly Rs 2,200 crore at current valuation.

In a filing to the BSE, DLF said that OppenheimerFunds, registered as an FII in India, bought 32.77 lakh shares or 0.19% from open market on April 11.

OppenhiemerFunds already had 4.99% stake in DLF prior to this transaction and the holding rose to 5.18% after this transaction.

According to the latest shareholding pattern of the company available with BSE, Oppenheimer did not figure among entities with 1% or above stake as on December 31, 2012. Promoter currently has 78.58% stake in DLF, the country's largest real estate firm.

The share price of the company closed at Rs 246.45 on BSE.