• search

DLF Universal plans largest ever IPO in India

Written by: Staff
|

New Delhi, Apr 20 (UNI) Delhi-based real estate major DLF Universal, which is working on nation-wide expansion plans in hotels and malls, today said it is coming out with the largest ever IPO of about two billion dollars in June.

''This should be the largest ever IPO in India,'' DLF Chief Financial Officer Ramesh Sanka told reporters here.

The K P Singh-promoted DLF Universal will raise two billion dollars by divesting about 10 per cent of its stocks thus indicating an enterprise value of 20 billion dollars.

According to company officials, the draft red herring prospectus will be filed with SEBI by end of April and the IPO is likely to hit the capital market in the first or second week of June.

The company has also convened a pre-IPO meeting of shareholders to get their nod on issues like spliting the Rs 10-share into five shares of Rs 2 each and issuing a liberal bonus of seven shares for each share held to the existing shareholders.

The company would be issuing 132,18,79,895 fully paid new equity shares as 7:1 bonus after spliting the shares.

UNI PC SS KP1908

For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more