DLF: Reducing balance sheet stress

After deleveraging, the Street will watch out for the pace of inventory sale

DLF gained one per cent in trade after the company gave the go-ahead for equity infusion and a qualified institutional plan (QIP) aimed at reducing its consolidated net debt of Rs 28,000 crore. The company is expected to raise about Rs 3,500 crore through a QIP, while the promoters are expected to pump in about Rs 10,500 crore. 

The promoters are expected to receive about Rs 11,900 crore from the sale of their stake in DLF Cyber City Developers (DCCDL) to GIC as well as a buyback. Of the sale proceeds to GIC, about Rs 8,900 crore will come by the