DLF Ltd ("DLF") today announced that its subsidiary, DLF Info City Developers (Kolkata) Ltd., a wholly owned subsidiary of DLF Cyber City Developers Ltd, has entered into definitive agreement to sell and transfer its Kolkata Tech Park 1 business undertaking to RDB Primarc Techno Park LLP ( An affiliate of Primarc & RDB group), on a slump sale basis for an aggregate consideration of approx. ~Rs. 637 crores (Rupees Six Hundred Thirty-seven crores).
Kolkata Tech Park 1 is one of the largest IT Park in eastern India with gross leasable area of approx. 1.49 mln. sqft. It is LEED Platinum Certified building from USGBC and home to global technology leaders.
Commenting on the deal, Mr Sriram Khattar, Vice Chairman & MD, DLF Rental Business said that "This is reflective of the value embedded in our core assets created over the years with good quality tenant partners and asset management. It also demonstrates our commitment to continuously enhance shareholder value."
Commenting on the deal Sidharth Pansari, Managing Director of Primarc Group & President CREDAI Bengal Said, "We are excited about this transaction which is a pivotal step in our growth and diversification journey. It strengthens our contribution to Bengal's tech ecosystem, and we will benefit immensely from DLF's learnings, systems & processes."
Vinod Dugar, Promoter of RDB Group, expressed his excitement, stating "This step strengthens our joint commitment to supporting Bengal's dynamic economy through projects that prioritise both sustainability and excellence."
JLL was the sole transaction advisor. Shardul Amarchand Mangaldas & Co and PwC were the legal and financial advisors respectively to DLF.
Shares of DLF Limited was last trading in BSE at Rs. 822.80 as compared to the previous close of Rs. 814.25. The total number of shares traded during the day was 71688 in over 3323 trades.
The stock hit an intraday high of Rs. 828.55 and intraday low of 807.50. The net turnover during the day was Rs. 58837453.00. |
