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DLF plans several listed subsidiaries (Live mint.com 28th Dec 2007)
India’s largest listed developer, DLF Ltd, which raised some Rs9,000 crore in its first share sale in July, is looking at the possibility of selling stakes in various businesses that will become separate companies.
“Each entity of DLF is phenomenally big. We are quite sure we want to go for a listing of each of the entities at a right time,” says Ramesh Sanka, DLF’s chief financial officer. “We will nurture them (entities) and then we will hive off whether it is insurance, telecom, hotels or even the residential business.”
“In the next eight-nine months to three years, lots of listings will happen,” predicts Sanka. The offices’ arm of DLF is already getting indirectly listed through DLF Assets Pvt. Ltd, a unit.
The company is looking at selling 10-20% stakes in the subsidiaries. More
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