DLF to build on share sale

Shares of realty major DLF is likely to hog the limelight as the company has scheduled a stake sale programme for institutional investors on Tuesday. DLF will raise up to Rs 1,888 crore through sale of 8.1 crore equity shares on May 14. DLF has fixed the price band at Rs 222-233 as against the latest share price of Rs 237.05. DLF shareholders had approved the sale of fresh equity shares to meet market regulator minimum public shareholding norms of 25 per cent, as promoters hold 78.58 per cent stake in the company. DLF intends to use the net proceeds of the issue for reducing debt and working capital requirement among other purposes.