Lodha Group to seek PE support for DLF deal
DLF has signed a binding agreement with Mumbai-based Lodha Developers and the Rs 2,700 crore deal is expected to be completed by the end of October 2012.
To finance the acquisition, Lodha has initiated talks with private equity players. Abhishek Lodha, managing director, Lodha Group, stated that the Group plans to fund the purchase of the land mostly through internal accruals and some amount of private equity.
According to industry sources, the company is closing in to receive financial support from private equity players HDFC Property Ventures and Singapore’s GIC.
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Real estate firm DLF sells off NTC Mill land parcel to Lodha Group
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