dlfs-recordbreaking-ipo-sells-in-two-days

DLF's record-breaking IPO sells in two days

India's leading developer seeks up to $2.4 billion as the country's equity issuance calendar fills up.

Anette Jönsson

June 13, 2007

After two days of bookbuilding, DLF LimitedÆs initial public offering is already covered and institutional investors have ordered more than twice the amount of shares available to them. And given that most investors in Indian IPOs typically wait to submit their orders until the last day û as they have to put down 10% of the order amount upfront û the record-breaking deal looks set to be a success.

Sources familiar with the deal also cite an encouraging response from international investors who have met with the DLF management during the 10-day global roadshow which preceded the bookbuilding. The interest, they say, stems not only from the fact that the company is the largest...

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