Most investors were quite taken aback by real estate firm DLF’s ad in a leading financial paper. The ad, to announce the details of the company’s buy-back programme, gave DLF’s new shareholding pattern. It said the promoter and promoter-group shareholding had risen from 88.15 per cent to 88.55; and that of FIIs from 6.68 per cent to 11.45 per cent. Mutual funds, insurance firms, individuals and corporate bodies, the ad said, had a zero share. It turns out, on enquiry, that there was an error in the ad, and the 11.45 per cent figure applied to everyone other than the promoter and promoter-group firms.
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