Reeling under financial crunch, realty major DLF today issued final notice to shareholders for payment of the balance amount for the shares allotted to them in the company's initial public offer two years ago.
In a filing to the Bombay Stock Exchange, the realty firm said it was submitting with the exchange "a copy of the final notice, despatched to the shareholders for payment of balance amount on partly paid shares".
The company said the final notice follows upon an initial notice and five subsequent reminders since 2007, for payment of the balance amount of Rs 375 per share from the shareholders, who were alloted partly-paid shares.
The shares were alloted in the IPO through which DLF raised Rs 9,187.50 crore, at a price of Rs 525 per share. The company said, in a recent filing with the National Stock Exchange, that it has utilised Rs 9,186.73 crore.
DLF had sent to the shareholders a 'confirmation-cum- allocation note-cum-notice' seeking payment of balance amount on partly-paid shares alloted in the IPO on June 28, 2007.
After this, subsequent reminders were sent on September 5, October 24, December 3, 2007, March 4 and May 7, 2008.