India's D B Realty climbs to 12-1/2-yr high on fund raise completion

Valor Estate

18/09/2023 09:05

** Shares of D B Realty  DBRL.NS  rise as much as 6.8% to
174.4 rupees, their highest since Jan 20, 2011
    ** Co completes equity raise of 15.44 bln rupees ($185.58
mln), entered partnerships with real estate developers such as
Adani Goodhomes and Godrej Residency
    ** Adds it is focused on becoming debt-free in near term;
exploring avenues to partner established large real estate
developers to monetize real estate holdings of more than 600
acres
    ** If trend holds, stock on track for a fourth consecutive
session of gains
    ** D B Realty stock up nearly 79% YTD 

    ($1 = 83.2000 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))