Biggest IPO in India

New Delhi, June 11:

India’s top real estate company, DLF Ltd, began taking orders from investors on Monday for its initial public offering of shares in what will likely be India’s biggest IPO ever.

DLF is offering 175 million new shares to the public in a price band of 500 rupees to 550 rupees, the company said. If all shares are subscribed, the company will raise between 87.5 billion rupees ($2.1 billion) and 96.25 billion rupees ($2.35 billion) depending on the cut off price.

A successful listing would boost the net worth of Chairman K P Singh and immediate family members, who together own 97.4 per cent of the company, to more than $18 billion .