DLF To Mop Up $1.5bn Loan Overseas

New Delhi: Real estate company DLF Ltd on Oct 11, declared it will raise up to $1.5 billion (about Rs 6,000 crore) loan from the overseas market for participating in the public offer of DLF Offices Trust, Singapore, and infusing in lucrative projects and companies. The loan would be raised in a wholly owned subsidiary abroad. DLF Ltd on Oct 11 informed the BSE that its board had given permission for investments of up to $750 million in projects or companies in sync with DLF''s business activities in India or overseas. DLF Offices mulls to float a public issue in Singapore to raise $1.5 billion sometime in January next year. The company has been established for holding and buying yielding commercial assets and is owned by DLF Ltd promoters family. The portfolio of the company is learnt to comprise of SEZs at this point and the company has bought or contracted 12 million square feet of space from DLF Ltd.