DLF may raise $200-$500 Million from Clear Capital

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New Delhi: As part of the expansion plans, DLF, a real estate firm in India, is likely to raise $200-500 million from UK based private equity fund, Clear Capital. The British firm would invest either in DLF or one of its subsidiaries, reported Financial Chronicle. "Talks are in very preliminary stages. No further details as to how much equity will be divested can be shared," an investment banker said. DLF has earlier decided to raise $1.5 billion by the end of this year. According to investment bankers, primarily $750 million investment will be made in DLF Assets (DAL). "Subsequently, another round of fund infusion will be made in DLF Power and other companies," they mentioned. The company is looking to list more businesses on the bourses and the current fund raising plan is part of that. Last year, DAL had filed its prospectus for raising close to $2.5 billion from Singapore stock exchange. DAL had proposed to be listed as DLF Office Trust, a real estate investment trust (REIT), on the Singapore stock exchange. But due to financial crisis the company put this issue on hold. DLF is also looking at a foreign tie-up in the power sector to scale up the business significantly. Most of substantial investments in DLF currently have come from DSP Merill Lych, Lehman Brothers and DE Shaw, the company.

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