DLF gains on strong response for share sale
The company offered 81.02 million shares to institutional investors, received bids for 147.7 million shares.
DLF is trading higher by 2% at Rs 235 in opening trades on the National Stock Exchange after the company received strong response from institutional investors for its share sale programme.
The real estate firm proposed to raise between Rs 1,799 and Rs 1,888 crore through institutional placement programme (IPP), received bids for 147.7 million shares, data on the NSE's website showed late Tuesday.
The company offered 81.02 million shares to institutional investors, priced between Rs 222 and Rs 233 a share.
The capital raised through the IPP route will help the Delhi-based company retire some of its debt, pegged around Rs 20,000 crore. The fresh issue of shares was conducted to bring down the promoter holding from 78.58% to 75% to achieve the public shareholding requirement, the deadline for which expires on June 3.
The real estate firm proposed to raise between Rs 1,799 and Rs 1,888 crore through institutional placement programme (IPP), received bids for 147.7 million shares, data on the NSE's website showed late Tuesday.
The company offered 81.02 million shares to institutional investors, priced between Rs 222 and Rs 233 a share.
The capital raised through the IPP route will help the Delhi-based company retire some of its debt, pegged around Rs 20,000 crore. The fresh issue of shares was conducted to bring down the promoter holding from 78.58% to 75% to achieve the public shareholding requirement, the deadline for which expires on June 3.