• Industry
• 1 min read

DLF to invest ₹3,750 crore in JV with Everstone to acquire economic interest in IREO companies

DLF and Everstone Group have agreed to form a joint venture to invest in IREO and other IREO group companies in India. DLF plans to invest about ₹3,750 crore for a majority stake in the JV, which will ultimately hold an aggregate economic interest of approximately 40% in the IREO India companies.

DLF and Everstone have entered into a binding and exclusive term sheet to form the JV, in which DLF will hold a majority stake.

Under a separate agreement with the IREO group of FDI funds, the proposed JV will deploy the funds to acquire at least a 20% stake in the IREO India companies, along with certain governance rights.

Through the transaction, the JV's aggregate economic interest, including contractual and other rights, is expected to be approximately 40% in the IREO India companies, while the IREO funds will retain the balance.

The transaction will provide the JV exposure to IREO's real estate portfolio across Delhi, Gurugram and other markets.

Following completion, the IREO India companies will be managed by an independent management team under an agreed business plan and governance framework, with strategic oversight from DLF and Everstone.

Ashok Kumar Tyagi, managing director of the company said the partnership is aimed at unlocking the growth potential of the IREO India companies.

The companies expect the transaction to close during 2027.