DLF fixes IPO price band between Rs 500-550, opens on June 11

New Delhi, May 24 (UNI) Realty major DLF Ltd today fixed its price band between Rs 500 and Rs 550 for its forthcoming initial public offering (IPO), opening on June 11 and closing on June 14.

DLF will offer 17,50,00,000 equity shares of Rs 2 each to the public through a 100 per cent book building process.

The issue comprises reservation of 10,00,000 equity shares of Rs 2 each for subscription by the employees of the company and a net issue to the Public of 17,40,00,000 shares.

After market regulator SEBI's approval, the company filed its Draft Red Herring Prospectus (DRHP) with the ROC for its proposed offer.

The issue would constitute 10.27 per cent of the fully diluted post-issue capital of the company.

The objects of the issue are to augment the company's capital base to meet the future capital requirements arising out of growth of the company's assets, a statement said.

Kotak Mahindra and DSP Merrill Lynch are the lead arrangers for the issue, with Citigroup, Deutsche Bank, ICICI Securities, Lehman Brothers, UBS and SBI Capital Markets.

UNI