DLF Group IPO coming up soon
Real estate giants DLF Group is soon going to file the draft prospectus for its initial public offer. The offer could be worth as much as Rs 10,500 crore.
The company is apparently ready with its draft red herring prospectus and it is expected to be filed with Sebi in a day or two.
DLF has already said in a statement that it would raise over Rs 10,500 crore from the India’s largest ever public issue in June. However, they want to issue bonus shares to existing shareholders and split stocks and privately place 3.5 crore of equity.
DLF Chief Financial officer Ramesh Sanka said in a statement on their plans: “The DLF’s issue would be larger than the ONGC public offer to fund its expansion programmes and future growth.”
The company is expected to issue 7 bonus shares against each held by the existing shareholders, split stocks of face value of Rs 10 into Rs 2 and place 3.5 crore shares with foreign institutional investors or domestic institutional investors.
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