DLF sets IPO price band at Rs 500-550; opens on June 11

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Delhi based real estate major, DLF has fixed price band of its IPO between Rs 500 and Rs 550 per share. The issue will open on June 11 and close on June 14, 2007. 

Issue size is at around USD 2.2-2.4 billion with the market cap of USD 21-23 billion.

DLF is offering 175,000,000 equity shares of Rs. 2/- each to the public, through a 100% book building process. The issue comprises reservation of 1,000,000 equity shares of Rs. 2/- each for subscription by the employees of the company and a net issue to the public of 174,000,000 shares.

The issue would constitute 10.27% 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.

Kotak Mahindra Capital and DSP Merrill Lynch are the global coordinators and book running lead managers and Lehman brothers securities Pvt. Ltd is the senior book running lead manager. Citigroup Global Markets India Pvt. Ltd, Deutsche Equities India Pvt., Ltd., ICICI securities Primary dealership Ltd, UBS Securities India Pvt. Ltd. are the book running lead managers to the issue. SBI Capital Market is the co-book running lead manager and Karvy Computershare Private Limited is the registrar to the issue.