Friday, June 15, 2007

DLF IPO receives 3.47 times subscription

The Initial Public Offering of DLF Ltd, India's leading realestate company closed for subscription on Thursday - June 14, 2007. The issue has evoked poor response from retail investors failing to receive even one time subscription.

The IPO received overall subscription of 3.47 times with bids for 607031910 equity shares against the offer of 175000000 shares. Bids for 48226330 equity shares were received at cut-off price.

The IPO evoked very good response from Qualified Institutional Buyers (QIBs). The QIBs portion of the issue received bids for 535447120 shares against the offer of 104400000 shares resulting in a subscription of 5.1288 times.

The Non Institutional Investors portion of the issue scraped through with subscription of 1.1434 times. The Non Institutional Investors portion received bids for 19894650 shares against the offer of 17400000 shares.

The Retail Individual Investors (RIIs) and Employee Reservation failed to receive even 1 time subscription under their respective categories. The Retail Individual Investors (RIIs) portion received bids for 50903990 equity shares against the offer of 52200000 shares resulting in a subscription of 0.9752 times. The Employee Reservation received bids for 786150 shares against the offer of 1000000 shares resulting in a subscription of 0.7862 times.

Source: Equity Bulls
stockpicks@gmail.com

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