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Oppenheimer buys 51 lakh shares of DLF, raises stake to 7.3%

US-based fund Oppenheimer has bought nearly 51 lakh shares, worth about Rs 56 crore, of real estate major DLF through open market transactions.



New Delhi: US-based fund Oppenheimer has bought nearly 51 lakh shares, worth about Rs 56 crore, of real estate major DLF through open market transactions.

OppenheimerFunds, registered as an FII in India, bought 50,99,048 shares, representing 0.29 percent stake, from open market on January 8, according to a regulatory filing. Post acquisition of these shares, Oppenheimer stake in DLF has increased to 7.30 percent stake from 7.01 percent held earlier. DLF' share price today closed at Rs 109.60 on BSE, down 2.14 percent.

In November last year, promoters of DLF, the country's largest real estate firm, bought 23 lakh shares of the company through open market transactions for nearly Rs 25 crore, raising their stakes to 74.99 percent.

DLF has a land bank of about 300 million sq ft, of which nearly 50 million sq ft is under construction. Last month, DLF received Rs 1,992 crore from Singapore's sovereign wealth fund GIC, thereby completing the deal to sell 50 percent stake each in two upcoming projects in the national capital.

From Zee News

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