DLF, the country's largest property developer, plans to seek shareholder approval to raise as much as Rs 10,000 crore from institutional investors for its development plans, over the next 12 months.

According to the company, the shareholders will pass an enabling resolution to this effect in the next annual general meeting which will be held on September 30. The company may sell shares to investors within 12 months of getting the approval.

Apart from this, the company is also planning to buy the shares through open market purchases through the stock exchange route. If DLF buys back the entire 2.2 crore shares as planned, the holding of its promoters, KP Singh and family, would rise to about 89.5% from 88.2%.

The final decision is expected by the end of next month.