DLF Home Developers (DHDL), a wholly owned subsidiary of DLF received its final tranche of payment of Rs 93.5 crore on the sale of balance shares of Galaxy Mercantile Ltd, a JV company of DHDL, IDFC and others.
DLF Ltd has informed BSE that DLF Home Developers Limited "DHDL", a wholly owned subsidiary of DLF Ltd., received its final tranche of payment of Rs. 93.5 crores on the sale of balance shares of Galaxy Mercantile Ltd. "GML", a JV company of DHDL, IDFC and others. In November 2011, IDFC had contracted to acquire 100% stake in the JV Company owning 1.3 mill. sq. feet IT Park located in Sector 62, Noida, Uttar Pradesh.The above transaction is in line with the DLF's objective of divesting its non-core assets.Source : BSE
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DHDL receives final payment of Rs 93.5cr on sell of shares in Galaxy Mercantile
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