DLF Shares Surge 7pc On QIP Plan

The share price of the leading realty Company DLF Limited rallied over 7 on BSE and NSE concurrently on Tuesday after the company launched its Qualified Institutional Placement (QIP) offer to raise Rs3000-Crore.

According to the Company, DLF Ltd is selling 17.3-crore equity shares to qualified institutional investors at the floor price of Rs193.01 apiece. The company may offer a discount of upto 5percent on the floor-price in the QIP, DLF Ltd said in a regulatory filing on Monday.

Stocks reacted positively with this development on Tuesday. At 12:00 hours, the DLF stock was trading at Rs 203.10 per share, up 7.32% percent on the NSE. In comparison, the Nifty trade at 11369.70 up 15.45 points.  While on the BSE, DLF share price quoted at Rs202.85 up 7.10% and in comparison the BSE benchmark Sensex traded at 37831.90 up 23 points.

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