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DLF's over Rs 3,000 cr QIP closed

DLFs over Rs 3,000 cr   QIP closed

New Delhi: Realty major DLF Thursday fixed an issue price of Rs 183.4 per share under its QIP programme that closed Thursday.

On Monday, DLF, the country's largest real estate firm in market value, had launched its qualified institutional placement (QIP) offering up to 17.3 crore shares to investors. In a regulatory filing, DLF said the Securities Issuance Committee has declared the closure of the QIP on Thursday.

The panel also approved the issue price of Rs 183.40 per equity share, which is at a discount of 4.98 per cent (i.e. Rs 9.61 per share) to the floor price of Rs 193.01 per share.

At Rs 183.4 per share, the company would raise Rs 3,172 crore.

According to sources, DLF's QIP issue was oversubscribed by two times, enabling the company to raise around Rs 3,200 crore.

Major institutional investors who participated in QIP offer include Oppenheimer, UBS, HSBC, Marshall & Wace, Myriad, Key Square, Goldman Sachs, Indus, Eastbridge, Tata Mutual Fund and HDFC Mutual Fund, sources had said.

With an aim to become a debt-free company, DLF had last year announced plans to issue shares through QIP to raise funds and pre-pay loans. This is the third major fund raising from DLF. In 2007, DLF had raised about Rs 9,200 crore through an IPO.

PTI

PTI

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