Shares of DLF rallied nearly 7 percent on Tuesday as the realty major launched its QIP offer to raise over Rs 3,000 crore.

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DLF is selling 17.3 crore equity shares to qualified institutional investors at the floor price of Rs 193.01 per equity share.

The company may offer a discount of up to 5 percent on the floor price in the QIP, it said in a regulatory filing on Monday.

This is the third major fundraising from DLF. In 2007, DLF raised close to Rs 9,200 crore through initial public offer (IPO) while in 2013, the company had raised nearly Rs 1,900 crore through an institutional placement programme.

The DLF's QIP comes close in the heels of the successful launch of India's first Real Estate Investment Trust (REIT), launched by Blackstone and Embassy to raise Rs 4,750 crore.

At 10:00 am, the stock was trading at Rs 201.9 per share, up 6.6 percent in early-morning deals on BSE. In comparison, the S&P BSE Sensex was trading at 37,902, up 0.2 percent.

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First Published:Mar 26, 2019 10:47 AM IST