The Hindu Business Line : DLF public issue fully subscribed

Mumbai June 12 The initial public of offering of the real estate major DLF was oversubscribed on the second day of the book building process on the BSE and NSE. The IPO was subscribed 1.28 times on account of large number of bids received for the Qualified Institutional Bidders' (QIB) portion.

Retail portion

A large number of bids were received at the lower end of the price band at Rs 500-Rs 550. A total of 22,31,29,480 bids were received against the issue size of 17.50-crore equity shares.

The QIB portion was subscribed 2.08 times. "Forty of the top 50 funds have made bids for the IPO," said sources close to the issue. However, not much of a response was seen in the retail individual investor portion and the non-institutional investor portion, which were subscribed 0.10 times and 0.026 times respectively.

"Retail investors generally come in only in the last days of the IPO after seeing the reaction from the institutional investors," said Mr Amitabh Chakraborty, President-Equity, Religare Securities.

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