Business

DLF board to meet tomorrow to consider share sale

  • PTI, Mumbai
  • |
  • Updated: Mar 05, 2013 01:25 IST

Realty major DLF on Tuesday said its board of directors will meet on Wednesday to consider stake sale in order to meet the minimum public shareholding norms.

"A meeting of the board of directors of the company will be held on March 6, to consider offer of securities and all related actions thereto, subject to the approval of shareholders, for achieving the minimum public shareholding," DLF said in a filing to the BSE.

The board shall also consider holding an extra ordinary general meeting on April 4, to seek shareholders approval for the above purpose, it said.

Promoters' holding in DLF as of December quarter stands at 78.58%.

As per market regulator Sebi norms, private sector firms need to have a minimum public shareholding of 25% by June 2013.

Shares of DLF were trading 1.79% higher at Rs 255.20 on the BSE in afternoon trade.

 

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