Indias largest share sale, to mop up Rs 9,625 crore, for DLF Ltd, a real estate developer, was at least 3.47 times subscribed, according to the data available on the National Stock Exchange website as of 9pm on Thursday.
Of the 607 million bids the company got for the 175 million shares on offer, about 482 million appear to be at the higher end of the campanys price band of Rs550 per share. The lower end of the price band was set at Rs500.
DLF, promoted by billionaire Kushal Pal Singh, 74, has been attempting to raise money for almost a year, with a series of disputes with minority shareholders delaying the share sale. With this offer, the company will become Indias largest listed real estate developer and Singh and his family could be worth nearly Rs82,000 crore, at the higher price of Rs550 a share.
More : livemint.com
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