New Delhi: DLF mega IPO opens today

By Staff
|
Google Oneindia News

New Delhi, June 11: Realty major DLF Ltd's much awaited initial public offer (IPO) to mop up Rs 9,625 crore at a price band of Rs 500 - 550 per equity share opens today.

The issue will comprise 17,50,00,000 equity shares of two rupees each through a 100 per cent book building process. The floor price of the band is 250 times the face value and the cap price is 275 times the face value.

Going by the strong sentiments, the DLF shares are expected to be subscribed one and a half to two times.

In the payment methods, in what can be seen becoming a norm with atractive IPOs, retail individual bidders will be eligible to pay Rs 150 on application, of which one rupee will be credited to face value and Rs 149 towards premium.

India's largest share sale closes on June 14 and the IPO will constitute 10.26 per cent of the fully diluted post-issue capital of the company.

Kotak Mahindra Capital Company Ltd and DSP Merrill Lynch Ltd are the global coordinators amd BRLMs for the issue. Lehman Brothers Securities Pvt Ltd is the senior BRLM. Karvy Computershare Pvt Ltd, is the registrar to the issue.

However, many analyst feel that the share is overvalued given the skewed nature of the company's operation in Gurgaon.

UNI

For Daily Alerts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X