DLF's rental arm DCCDL raises through issue of debentures
Real Estate

DLF's rental arm DCCDL raises through issue of debentures

DLF's rental subsidiary, DLF Cyber City Developers Ltd (DCCDL), has successfully raised Rs 1,100 crore through the issuance of non-convertible debentures (NCDs) on a private placement basis. This development was disclosed in a regulatory filing by DLF, which highlighted that the DCCDL board has given its approval for the allotment of these debentures.

The securities allotment committee of the Board of Directors at DCCDL has sanctioned the allotment of 1,10,000 senior, listed, rated, secured, redeemable, transferable, rupee-denominated NCDs. These NCDs have a face value of Rs 1 lakh each and were issued on a private placement basis to eligible investors.

The total issue size amounts to Rs 1,100 crore, and these NCDs will be listed on the BSE (Bombay Stock Exchange). The coupon rate for the NCDs is set at 8.25% per annum, with a maturity date of August 17, 2033.

DCCDL is a joint venture between DLF and the Singapore sovereign wealth fund GIC. DLF holds a 66.67% stake in DCCDL, while GIC possesses a 33.33% stake in the joint venture. Notably, DLF primarily holds its rental assets, comprising offices and shopping malls, through DCCDL. DCCDL boasts rent-yielding office and retail properties spanning approximately 40 million square feet, generating an annual rental income of approximately Rs 4,000 crore.

In summary, DLF's rental arm, DCCDL, has raised Rs 1,100 crore by issuing NCDs on a private placement basis, with these securities set to be listed on the BSE. This financial move is in line with DLF's strategy to manage its rental assets effectively through DCCDL, in collaboration with its partner GIC.

Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

DLF's rental subsidiary, DLF Cyber City Developers Ltd (DCCDL), has successfully raised Rs 1,100 crore through the issuance of non-convertible debentures (NCDs) on a private placement basis. This development was disclosed in a regulatory filing by DLF, which highlighted that the DCCDL board has given its approval for the allotment of these debentures. The securities allotment committee of the Board of Directors at DCCDL has sanctioned the allotment of 1,10,000 senior, listed, rated, secured, redeemable, transferable, rupee-denominated NCDs. These NCDs have a face value of Rs 1 lakh each and were issued on a private placement basis to eligible investors. The total issue size amounts to Rs 1,100 crore, and these NCDs will be listed on the BSE (Bombay Stock Exchange). The coupon rate for the NCDs is set at 8.25% per annum, with a maturity date of August 17, 2033. DCCDL is a joint venture between DLF and the Singapore sovereign wealth fund GIC. DLF holds a 66.67% stake in DCCDL, while GIC possesses a 33.33% stake in the joint venture. Notably, DLF primarily holds its rental assets, comprising offices and shopping malls, through DCCDL. DCCDL boasts rent-yielding office and retail properties spanning approximately 40 million square feet, generating an annual rental income of approximately Rs 4,000 crore. In summary, DLF's rental arm, DCCDL, has raised Rs 1,100 crore by issuing NCDs on a private placement basis, with these securities set to be listed on the BSE. This financial move is in line with DLF's strategy to manage its rental assets effectively through DCCDL, in collaboration with its partner GIC.

Next Story
Infrastructure Energy

Orb Energy Achieves Rs 3 Bn Milestone in Solar Financing Success

Orb Energy, a vertically integrated solar energy solutions provider, has achieved a significant milestone by surpassing Rs 3 billion in financing disbursements through its in-house finance facility that requires no collateral or down payment. This accomplishment underscores its dedication to supporting small and medium enterprises (SMEs) and micro, small, and medium enterprises (MSMEs) in India in transitioning to cost-effective solar energy solutions. The company has installed approximately 350 MW of solar photovoltaic systems nationwide, with a strong foothold in southern and western India...

Next Story
Infrastructure Energy

90% Defaulters Yet to Settle Rs 3.17 Bn Power Dues in Noida

Out of a total of 1.31 lakh defaulters in Noida, only 13,500 consumers availed of the one-time settlement (OTS) scheme during its first phase. The Uttar Pradesh Power Corporation (UPPCL) launched the scheme in three phases, from December 15, 2024, to January 31, 2025. These consumers cleared dues amounting to Rs 300.40 million out of a total Rs 3.47 billion owed. Officials emphasized that stricter enforcement of the scheme would be implemented in the coming phases. During a recent weekend meeting with the technical team of the power department, the Noida zone's chief engineer instructed that..

Next Story
Infrastructure Energy

NER Invites Bids for 10 MW Rooftop Solar Projects in Uttar Pradesh

The Varanasi division (electrical) of Northeastern Railway has recently issued four tenders for a total of 10.4 MW on-grid rooftop solar systems to be installed at various buildings in Gorakhpur, Uttar Pradesh. The tenders include different project capacities, with submission deadlines set between January 31 and February 3, 2025. Bidders are required to submit earnest money deposits (EMDs) ranging from Rs 0.89 million to Rs 1.2 million depending on the tender, with the expected project costs varying between Rs 148 million and Rs 174.08 million. The selected contractors will be tasked with sup..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000