The Hindu Business Line : DLF IPO may be delayed

The initial public offering of real estate company DLF is expected to be slightly delayed, hitting the market around mid-July instead of the company's earlier indicated timeframe of late June and early July.

While sources said that the IPO timing had been delayed in the face of choppy market conditions, senior company officials maintained that the shift was on account of the fact that DLF was still awaiting Securities and Exchange Board of India (SEBI's) approval on the Draft Red Herring Prospectus (DRHP). The company had filed its DRHP with SEBI on May 13 for raising an estimated Rs 13,600 crore through public offer. The company proposed to enter the capital markets with an IPO of 20.2 crore equity shares of Rs 2 each for cash at a premium to be decided through the 100 per cent book-building process.

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