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DLF QIP Issue Receives Positive Response; Subscribed Over 2 Times

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DLF's QIP (qualified institutional placement) issue has been subscribed over two times, allowing the company to raise around Rs 3,200 crore, according to a PTI report.

 

The Delhi-based real estate major, on Monday, had launched its QIP offering up to 17.3 crore shares to investors.

According to the PTI report citing market sources, DLF's QIP offer has been over-subscribed by two times at a price of around Rs 183-184 apiece.

DLF QIP Issue Receives Positive Response; Subscribed Over 2 Times

Oppenheimer, UBS, HSBC, Marshall & Wace, Myriad, Key Square, Goldman Sachs, Indus, Eastbridge, Tata Mutual Fund, and HDFC Mutual Fund, are among the major institutional investors who participated in QIP offer, it said.

The QIP issue will close on Friday with the allotment of shares to institutional investors.

The country largest real estate firm in market value had announced last year that it plans to issue shares through QIP to raise funds and pre-pay loans, with an aim to become debt-free.

The QIP was launched on Monday at a floor price of Rs 193.01 per equity share but said that it might offer a discount of up to 5 percent on the floor price.

Read more about: dlf
Story first published: Wednesday, March 27, 2019, 17:45 [IST]
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