DLF Ltd to go ahead with Rs 13,500 cr IPO

New Delhi, Jun 4 (UNI) Unravelled by the recent stock market melt down, which has seen the sensex fall over 15 per cent since May 16, DLF Ltd, India's real estate major, is still planning to go ahead with their proposed Intial Public Offer (IPO).

According to merchant banking sources, when DLF had announced its plan for the issue, the markets were at 9000 points and now they are at 10,500 points. Therefore, the company strongly believes the investors will buy the shares.

The IPO, which is believed to be the biggest ever in the Indian market with a size of Rs 13,500 crore, is expected to open by the end of June or early July, as announced earlier.

UNI MP CS HT1335