Realty major DLF will raise up to Rs.1,888 crore through sale of 8.1 crore equity shares to institutional investors on May 14.
The issue of shares via institutional placement programme (IPP) is being done to meet the Securities and Exchange Board of India’s guideline on minimum 25 per cent public shareholding by June 30 for private sector listed companies.
The company has fixed a price band of Rs.222-233 a share for its 8.1 crore share offer. In a filing to the BSE, DLF said “the Equity Issuance Committee of the board of directors...has finalised May 14 as the issue opening and closing date.
“Further, the floor price has been finalised at Rs.222 an equity share with price band of Rs.222 to Rs.233 a equity share,” the filing added.