DLF Rs 500-550 per share as IPO - Indian Real Estate Forum

manpreet · 25-05-07

Real estate company DLF today announced a price band of Rs 500-550 per share for its initial public offering. DLF can raise a maximum of Rs 9,625 crore from the issue against an earlier estimate of Rs 13,600 crore.

DLF proposes to enter the market with a public issue of 17.5 crore shares of Rs 2 each through the 100 per cent book-building route.

About 10 lakh shares will be reserved for the employees, while 17.4 crore shares will be offered to the public. The issue will open on June 11 and close on June 14. It will constitute 10.27 per cent of the fully diluted post-issue capital of the company.

The proceeds of the issue will be used to augment the company’s capital base.

It was speculated that the DLF management was keen on a price band of up to Rs 600 at the upper end. However, even at the current range, the issue could raise between $2.2-2.4 billion. Though this is less than the $3.5 billion which DLF planned to raise initially, the IPO is still the biggest in India.

25-05-07	#1
manpreet New Member Join Date: Oct 2006 Posts: 29 Thanks: 0 Thanked 0 Times in 0 Posts	DLF Rs 500-550 per share as IPO Real estate company DLF today announced a price band of Rs 500-550 per share for its initial public offering. DLF can raise a maximum of Rs 9,625 crore from the issue against an earlier estimate of Rs 13,600 crore. DLF proposes to enter the market with a public issue of 17.5 crore shares of Rs 2 each through the 100 per cent book-building route. About 10 lakh shares will be reserved for the employees, while 17.4 crore shares will be offered to the public. The issue will open on June 11 and close on June 14. It will constitute 10.27 per cent of the fully diluted post-issue capital of the company. The proceeds of the issue will be used to augment the company’s capital base. It was speculated that the DLF management was keen on a price band of up to Rs 600 at the upper end. However, even at the current range, the issue could raise between $2.2-2.4 billion. Though this is less than the $3.5 billion which DLF planned to raise initially, the IPO is still the biggest in India.

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