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DLF eyes Rs 1500cr via stake sale by CY15-end

DLF is also in the final stages of selling its Chennai IT special economic zone (SEZ) Tidel Park to GIC’s Ascendas JV for Rs 700 crore.

Realty major Delhi Land and Finance ( DLF ) is looking to garner Rs 1500 crore by calendar year 2015 end through stake sale in two projects.

The company is looking to sell 25-30 percent stake in National Capital Region (NCR) project Capital Greens Phase II to Singapore- based sovereign wealth fund GIC. The company hopes to sell this for Rs 800 crore.

DLF is also in the final stages of selling its Chennai IT special economic zone (SEZ)  Tidel Park to GIC and Ascendas’ joint venture (JV) for Rs 700 crore.

The stake sales are a part of DLF’s debt reduction plan as the company’s debt is currently more than Rs 20,000 crore.

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