DLF IPO gets completely subscribed | business | Hindustan Times
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DLF IPO gets completely subscribed

The IPO gets subscribed 1.04 times on its second day of offer, receiving 18.27 crore bids for 17.5 crore equity shares on offer.

business Updated: Jun 12, 2007 12:30 IST

The mega initial public offer of realty giant DLF, through which the developer is expecting to garner Rs 9,625 crore, on Tuesday got fully subscribed.

The IPO got subscribed 1.04 times on its second day of offer, receiving 18.27 crore bids for 17.5 crore equity shares on offer, latest data available on the stock exchanges shows.

Besides, 23,13,020 bids were received at cut-off price, the data shows.

The issue had received bids for 78 per cent shares yesterday, when the IPO opened for subscription.

The Qualified Institutional Buyers (QIB) portion constituting of Foreign Institutional Investors, domestic financial institutions and Mutual Funds was subscribed 1.28 times the shares reserved for them on the first day itself.

Billionaire K P Singh-promoted DLF, which is offering 17.5 crore equity shares through 100 per cent book-building process, has fixed the price band at Rs 500-550 per share. The mega-issue would make it among the 10 largest firms on the bourses with a value of Rs 93,700 crore on the upper band.

The issue would close on June 14. It would constitute 10.27 per cent of the fully diluted post-issue capital of the company.