The board of directors had approved allotment of debentures and warrants to promoters in lieu of their investment of proceeds from this deal into DLF.

Realty major DLF expects the sale of its promoters' stake in its rental arm to GIC for Rs 8,900 crore to be concluded by December and infusion of proceeds into the company by February 2018, a top company official said.

Fair trade regulator CCI has approved Singapores sovereign wealth fund GICs proposal to acquire 33 per cent stake in realty major DLFs rental arm DCCDL for Rs 8,900 crore.

If the board approves this deal, this would be second investment from GIC into DLF group. In September 2015, GIC had invested about Rs 2,000 crore in DLF's two housing projects in the national capital.

How malls are reinventing themselves to counter the threat of e-commerce and boosting retail real estate in the process.

Global sovereign funds and private equity players are showing immense interest in India's commercial real estate segment.

The stock tanked 8.11 per cent to end at Rs 141.10 on BSE. Intra-day, it slipped 9.15 per cent to Rs 139.50.

The Indian benchmark indices hit their respective 52-week high on strong cues from Wall Street and a rise in the Asian market following President Trump's positive first address to Congress.

Realty major DLF's promoters are in the final stage of discussion with potential investors to sell their 40 per cent stake in the company's rental arm DCCDL Ltd for an estimated Rs 12,000-14,000 crore.

Shares of DLF slipped 4 per cent after the realty major said it will invest about Rs 500 crore to develop an IT Park in Chennai as the commercial real estate market has picked up in major cities.

The country's largest realty firm has exhausted its commercial space stock by leasing out over 32 million sq ft. It expects to earn about Rs 2,700 crore rental income in the current fiscal from its portfolio.

Private equity investors like Blackstone and Rothschild-backed Xander Group are looking for malls in India, betting that people will flock to stores as more foreign brands open and online retailers ease their aggressive discounting.

The headline indices slipped tracking muted trend seen in Asian markets as investors braced for US jobs data to see if the world's no. 1 economy is resilient enough to weather the fallout from the Brexit vote

Shares of DLF surged 1.65 per cent in trade on Tuesday following news reports the realty major has received bids worth $1 billion for a 40 per cent stake in its commercial property unit.

Shares of realty major DLF today climbed over 3 per cent after the company initiated the process to sell promoters' 40 per cent stake in the rental arm, a deal estimated at Rs 12,000-14,000 crore.

DLF said the Board has \"approved sale of 'DLF Place Saket', a shopping mall, having built up area of 5.16 lakh sq ft along with land parcel ... to Nambi Buildwell Pvt Ltd, a wholly owned subsidiary of the company on arm's length basis for an aggregate consideration of Rs 904.50 crore\".

DLF reported 24 per cent rise in its consolidated net profit at Rs 163.95 crore for the quarter ended December on higher sales and one-time gain from stake sale in two projects here to Singapore's sovereign wealth fund GIC.

The stock rallied after the realty major's promoters bought 23 lakh shares of the company through open market transactions for nearly Rs 25 crore.