DLF plans IPO; issue to open on June 11

Mumbai, May 24 (UNI) Real estate leader DLF Limited today said the company had fixed a price band of Rs 500-550 per share for its Initial Public Offer (IPO).

The issue is slated to open on June 11.

The Company will be raising a maximum of Rs 9,625 crore, as against earlier estimates of upto Rs 13,600 crore, the DLF Ltd said in a release here.

The proceeds of the issue would be deployed to meet construction cost, land acquisition and repayment of debt.

The company had received approval from market regulator SEBI for its IPO on May 7.

UNI