DLF Universal planning India’s biggest IPO yet

The real estate industry in India is booming and to make the most of the situation, DLF Universal, an Indian real- estate developer is coming out with an IPO which might turn out to be the biggest ever in the Indian market.

The company is planning to raise funds to support their existing projects and fund expansion. DLF has hired DSP Merrill Lynch and Kotak Mahindra Bank to manage the share sale. The bookrunners would be UBS AG, JM Morgan Stanley, Enam Securities Pvt., ICICI Securities Ltd., and Citigroup Inc.

As per incoming reports, they have plans to sell as many as 200 million shares in an initial public offering after selling 35 million shares to private investors. This would bring down the share of K.P. Singh (Owner of the company) and his family to about 87 percent after the sale from 99.5 percent.

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