DLF files fresh IPO papers
Indian real estate developer DLF Ltd has filed a fresh prospectus with the market regulator for an initial public offering that could raise more than $2 billion, banking sources said on Wednesday.
Last year, DLF dropped its plans for what would have been India's biggest IPO due to a sharp market fall in May and June, but stock market has since recovered. The main index hit a record high in early December. "It would be for about 10.2 per cent of the company," said a banker.
Another banker said the issue was likely to hit the market either in late February or early March.The bankers said Lehman Brothers had been added to the underwriters for the issue, while JM Morgan Stanley and Enam Financial, who had been on the list of underwriters last year, were no longer involved.
DSP Merrill Lynch and Kotak Mahindra Capital Co Ltd are the managers for the issue along with Deutsche Bank, Lehman Brothers, Citigroup, ICICI Securities and UBS.
Last year, DLF dropped its plans for what would have been India's biggest IPO due to a sharp market fall in May and June, but stock market has since recovered. The main index hit a record high in early December. "It would be for about 10.2 per cent of the company," said a banker.
Another banker said the issue was likely to hit the market either in late February or early March.The bankers said Lehman Brothers had been added to the underwriters for the issue, while JM Morgan Stanley and Enam Financial, who had been on the list of underwriters last year, were no longer involved.
DSP Merrill Lynch and Kotak Mahindra Capital Co Ltd are the managers for the issue along with Deutsche Bank, Lehman Brothers, Citigroup, ICICI Securities and UBS.
posted by SY at 4:46 PM
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