Real estate major DLF has fixed a price band of Rs 500-550 per share for its IPO. The size of the total issue, at this price band, will be between
Rs 8,750 crore and Rs 9,625 crore. The issue opens on June 11 and closes on June 14. DLF is issuing 17.5 crore shares of Rs 2 each, through 100% book-building route. The issue will involve an equity dilution of 10.27%. We want to keep the price investor-friendly,” said a senior company executive.
While re-filling its draft prospectus in January this year the company decided not to exercise the greenshoe option. The company would raise Rs 9,625 crore at the top end of the price band and Rs 8,750 crore at the lower end. This is less than the Rs 13,500-crore float that had been proposed last year as well as the Rs 10,000 crore figure that was talked about when the company filed its revised draft prospectus earlier this year. However, despite being truncated it will be the largest issue to hit the Indian market.
Read more in The Economic Times article.
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