DLF public issue subscribed 1.28 times

Mumbai: The initial public offering (IPO) of DLF, the real estate behemoth, was oversubscribed on the second day of the book building process on the BSE and NSE. The IPO was subscribed 1.28 times on account of large number of bids received for the Qualified Institutional Bidders' (QIB) portion. A large number of bids were received at the lower end of the price band at Rs 500-Rs 550. A total of 22,31,29,480 bids were received against the issue size of 17.50-crore equity shares. The QIB portion was subscribed 2.08 times.