Skip to main content

DLF’s rental arm DCCDL buys 26.43% stake in Suncloud Solar for Rs 8.41 crore

DLF holds 67 per cent stake in DLF Cyber City Developers Ltd (DCCDL), while Singapore sovereign wealth fund GIC has the remaining 33.33 per cent stake

New Delhi: Realty firm DLF’s rental arm DCCDL has bought 26.43 per cent stake in Suncloud Solar for Rs 8.41 crore.

DLF holds 67 per cent stake in DLF Cyber City Developers Ltd (DCCDL), while Singapore sovereign wealth fund GIC has the remaining 33.33 per cent stake. DCCDL holds bulk of the office buildings and shopping malls of DLF group.

According to a regulatory filing on Thursday, DCCDL, through one of its wholly-owned subsidiaries DLF Info City Chennai Ltd, has agreed to acquire around 26.43 per cent shares of Suncloud Solar Pvt Ltd by way of cash consideration of Rs 8.41 crore.

Suncloud Solar is a special purpose vehicle of Cleantech Solar India OA 2 Pte. Ltd. It has been incorporated to undertake the construction, operation and maintenance of the captive generating plant and to supply, on captive basis, power generated from the captive generating plant to DLF Info City Chennai under the Power Purchase Agreement (PPA).

To qualify as captive user in terms of the Electricity Act, 2003 and the allied rules, DCCDL is required to subscribe to equity shares comprising at least 26 per cent of the issued and paid-up equity share capital of Suncloud Solar.

In December 2017, DLF had formed a joint venture with GIC after its promoters sold their entire 40 per cent stake in DCCDL for nearly Rs 12,000 crore. This deal included the sale of a 33.33 per cent stake in DCCDL to GIC for about Rs 9,000 crore and the buyback of remaining shares worth about Rs 3,000 crore by DCCDL.

DCCDL has rent-yielding commercial assets (office and retail) of around 40 million square feet.

The post DLF’s rental arm DCCDL buys 26.43% stake in Suncloud Solar for Rs 8.41 crore appeared first on India Retailing.



from India Retailing https://ift.tt/onNV3aL
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

Eagle Labs launches impirica CBD brand

ST. PETERSBURG, Fla. — Eagle Labs has launched impirica, a new brand of CBD intended to eliminate consumer fear, and increase confidence, in trying the exciting new cannabidiol category. Michael Law Although most Americans have now heard about CBD, many are very confused and concerned about product quality. This is inhibiting trial in the category and holding back conversion into sales. In fact, a 2017 study by Johns Hopkins University found that two out of three CBD products on the shelf did not contain the amount of CBD reflected on the label. Furthermore, in 2018 and 2019, the FDA sent notices to a substantial number of CBD manufacturers advising them of serious concerns about product quality or egregious medical claims. The impirica brand looks different than most CBD brands — the brand name itself connotes testing and trust, says Eagle Labs chief commercial officer Michael Law. “It doesn’t use the traditional category colors of browns and greens, and you won’t find a hemp...
68 comments
Read more

Coronavirus Recovery: Canadian Small Businesses Must Focus on Easing Employee, Customer Fears

By M. Tina Dacin and Laura Rees A small business has been  given the green light to reopen amid the COVID-19 pandemic . What does it need to consider for employees and customers? Small business owners are reorganizing physical space to account for continued distancing requirements and rethinking supply chains to deliver products and services in new ways to meet changing demand patterns. But they must not forget the hearts and minds of employees and customers. That doesn’t mean replacing a focus on the bottom line, but it helps address the need for a new set of expectations and ways of communicating in terms of product or service offerings, delivery methods and real-time feedback. Based on our expertise in organizational behaviour and past research we’ve conducted, we provide a set of recommendations to help small businesses thrive in our new COVID-19 economy by looking after the hearts and minds of the people most important to businesses — employees and customers. Fear, Anxi...
1 comment
Read more

World's 1st Pizza Subscription Service Launches in Toronto

general assembly subscription user opening delivery box of pizza. photo: general assembly pizza By Mario Toneguzzi Toronto-based General Assembly Pizza has launched what it describes as the world’s first pizza subscription service as it also plans to aggressively expand its product offering in the near future by opening a new concept in the market. "Since opening our doors in 2017, we have pushed for the best guest-experience possible — that's why our dough is 100 percent naturally leavened, that's why we have a purpose-built 400-square-foot pick-up and delivery area, and that's why we’ve launched a direct-to-consumer subscription-based ecommerce platform,” said Founder & CEO Ali Khan Lalani. “In 2020, providing the best guest experience means General Assembly Pizza has to be more than a restaurant. I'm proud to say that after almost six months of planning, many roadblocks, and countless pivots — all while maintaining our day-to-day restaurant operatio...
1 comment
Read more