DLF to launch $345 million share sale on May 14

MUMBAI (Reuters) - Real estate company DLF Ltd will raise up to 18.9 billion rupees through a share sale to institutional investors on May 14.

The company will sell about 81 million shares at a price band of 222 rupees to 233 rupees each, it said in a statement late on Saturday.

Shares in DLF, which is valued by the market at $7.4 billion, closed on Friday at 237.05 rupees, down 0.11 percent from the previous close.

($1 = 54.6850 rupees)

(Reporting by Swati Pandey; Editing by Daniel Magnowski)