DLF Finally comes up with IPO

Real estate giant player DLF Ltd has set a price band of Rs 500-550 per equity share for its forthcoming initial public offering.

The issue opens on June 11 and closes on June 14. The company filed its prospectus with the Registrar of Companies on Thursday.

The company had filed its draft prospectus in January for 17.5 crore equity shares of Rs 2 each.
The company thus proposes to raise Rs 8,750 crore at the lower end of the price band and Rs 9,625 crore at the upper end.

The issue would constitute 10.27 per cent of the fully diluted post-issue capital of the company, reducing the promoter's stake to around 88 per cent.

DLF's public issue would fall shy of Oil and Natural Gas Corporation's public issue in 2004 of around Rs 10,500 crore, the country's largest issue by far, by around Rs 875 crore even if all the shares are subscribed at the upper end of the price band.