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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