In a statement to the National Stock Exchange on Monday, DLF, one of India's largest real estate developers, said it has raised INR16.75 billion (c.US$ 425 million) by selling stakes to private equity firms. The New Delhi-based company has tapped growing investor appetite for new property ventures in the South Asian market.
DLF raised INR14.81 billion by selling a 49% stake in seven middle-income housing projects to a real estate fund owned by investment bank Merrill Lynch & Co.
Source: CNNMoney/Dow Jones
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