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Realty major DLF is seeking shareholders' approval to create charge, lien or pledge on its over 50 per cent shares in three subsidiaries, which holds rental commercial assets, for raising up to Rs 7,500 crore. In a notice to the annual general meeting, DLF has sought shareholders' nod through special resolution "to create charge, lien, pledge and other encumbrances of any nature/kind, exceeding 50 per cent of the company's shareholding in the material subsidiaries - DLF Cyber City Developers, Caraf Builders & Constructions and DLF Assets".
DLF holds 100 per cent equity shareholding in these three subsidiaries, which are in the business of developing and leasing of office space, IT Park/SEZ and retail properties.
Its rental business, with leasable area of about 29.4 million sq ft, yielded annuity income of about Rs 2,200 crore during last fiscal.
