| DLF prices IPO at Rs 525, to mop up Rs 9,187.5cr |
| BS Reporter / Mumbai June 16, 2007 |
| New Delhi based realty developer DLF has priced its initial public offer (IPO) at Rs 525 a share, a discount of 4.5% at the higher end of the price band of Rs 500-Rs 550. At the issue price, the size of the offering is Rs 9,187.5 crore (approximately $ 2.25 billion). The issue was subscribed approximately 2.75 times at the top end of the price band (Rs 550 per share). At Rs 550 per share, the QIB portion was subscribed 3.94 times. The retail portion was subscribed 0.96 times while the non-institutional investors' portion was subscribed 1.08 times. The issue received nearly 590,000 bids. Nearly 90% of institutional demand came from global institutional investors, with almost equal contribution from US, Europe and Asia. Majority of the demand was from long-only funds. K P Singh, chairman, DLF said, |
