(To read more on the debt and equity markets, click here.)
NEW DELHI-In what is believed to be the largest stock sale ofits kind ever attempted in India, billionaire real estate developerK.P. Singh's DLF Universal Ltd. hopes to raise $3 billion when itstarts offering shares to investors later this month or early July,the company says in a share sale document.
The company initially announced the planned IPO in April buthadn't set a specific sale figure. DLF plans to use the proceeds topurchase land, fund development and construction projects and repay136 billion rupees (US $2.96 billion) in loans, according to thecompany filing with the market regulator. If the additional sharesale option is exercised in full, the Singh family ownership of DLFwould drop to 86.06% from 98.66%, the document states.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
