Pia Singh sells over 1 cr DLF shares for Rs 232 cr

DLF's promoter Pia Singh today offloaded nearly one crore shares of the company for Rs 232.67 crore to nine other promoter entities.

As per the block deal data available with the National Stock Exchange, Pia Singh, daughter of DLF Chairman K P Singh, sold about 1.04 crore shares in the company to nine promoter entities, including DLF Investments, Haryana Electrical Udyog, Kohinoor Real Estates Co, Madhur Housing & Development Co.

Other entities included Megha Estates, Panchsheel Investment Company, Realest Builders and Services, Vishal Foods & Investments, Yashika Properties and Development Company.

The shares were sold at an average price of Rs 223 apiece aggregating the deal size to Rs 232.67 crore. As on September 30, 2012, Pia Singh held about 2.28 crore shares representing 1.34 stake in DLF.

Last month, DLF had announced that Pia Singh will sell up to 1.25 crore shares, worth up to 0.73 per cent stake in the company, at Rs 216.41 per share by December 17, 2012.

Shares of DLF dropped 1.85 per cent to settle at Rs 217.85 apiece on the BSE today.

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