DLF IPO Gets Sebi Nod, To Hit Market In A Month

New Delhi: Following a regulatory approval, Delhi-based real estate player DLF Ltd mulls to go ahead with its initial public offering (IPO). They have received the clearances to go ahead with our IPO. The company had registered a fresh prospectus with market regulator EBI in January for 17.5 crore shares of Rs 2 each to meet construction cost, land acquisition and repayment of debt. The company hoped to mop up Rs 13,000-14,000 crore through the IPO. With the issue of 17.5 crore shares, the company will offload around 10.2 per cent of its equity. The company had earlier filed its prospectus with SEBI in May 2006 for 20.2 crore shares. The prospectus had to be withdrawn in August following complaints by minority shareholders. The shareholders registered a complaint with the market regulator that they were not informed about the debenture offering, depriving them of an opportunity to own more stock when DLF converted the bonds into shares.