DLF raises $2.25 billion from India's largest IPO
The offer attracts $7.4 billion worth of demand as investors back India's growth story, but retail orders fall slightly short of target.
Real estate developer DLF Limited has raised Rs91.88 billion $2.25 billion from IndiaÆs largest initial public offering after receiving strong demand from international investors in particular.
The 60% institutional tranche was 5.13 times covered, with about 90% of the order amount coming from international accounts. In total, the deal attracted approximately $7.4 billion worth of orders and was 3.47 times subscribed.
Orders from retail investors didnÆt quite fill the 30% of the offering set aside for them, but given the...
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