Home / Companies / News / GIC sells DLF's 70 million shares in block deal for Rs 1,344 crore

GIC sells DLF's 70 million shares in block deal for Rs 1,344 crore

The shares have been bought by existing investors who had pumped in Qualified Institutional Placement (QIP) programme at Rs 192

GIC sells DLF’s 70 million shares in a block deal for Rs 1,344 crore

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DLF

3 min read Last Updated : Apr 09 2019 | 1:15 PM IST

GIC, Singapore government’s sovereign wealth fund, on Monday sold 70 million shares of the country’s largest real estate developer, DLF, in a block deal for around Rs 1,344 crore.

The shares have been bought by existing investors who had pumped in Qualified Institutional Placement (QIP) programme at Rs 192. After the block deal broke, DLF share prices cracked by almost 8.4 per cent to close at Rs 184.60.

“As a long-term investor, GIC has steadily grown our investments in DLF, one of India’s most established real estate developers, since 2011. Today, we remain invested significantly in DLF across various investment

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