DLF Limited (NSEI:DLF) entered into definitive agreement to acquire 5.22% stake in Invecon Private Limited on November 7, 2023. In a related transaction, DLF is also acquiring stakes in 2 more LOCs (Land Owning Companies) and the total cost of the acquisition is INR 400 million. Post the acquisition, Invecon will become a subsidiary of DLF. Invecon has revenues of INR 0.23 million, PAT of INR -0.4 million and Net worth of INR 3.7 million. The board of directors of DLF Limited approved the transaction at its meeting held on November 7, 2023. The transaction is expected to close within 180 days from the execution of definitive agreement.

DLF Limited (NSEI:DLF) completed the acquisition of 5.22% stake in Invecon Private Limited on December 31, 2023.