Business Daily from THE HINDU group of publications
Friday, Jul 06, 2007
ePaper
Business Daily from THE HINDU group of publications Friday, Jul 06, 2007 ePaper |
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Markets
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IPOs
Gaining on debut: Mr K.P. Singh, Chairman, DLF, striking the gong to list the company’s shares on the BSE in Mumbai on Thursday. Mr T.C. Goyal, MD, is also seen. The DLF scrip closed at Rs 570.05 against the issue price of Rs 525. —
Our Bureau Mumbai, July 5 Real estate major DLF Ltd debuted on the BSE on Thursday at a premium of 8.6 per cent and closed at Rs 570.05. The company had priced its IPO at Rs 525. Opening on a bullish note at Rs 582, it peaked to Rs 714.25 and touched an intra-day low of Rs 505.60. A total of 3.42 crore shares changed hands. On the NSE, the company stock closed at Rs 569.80, where the total traded quantity was 7.80 crore. The scrip touched a high of Rs 583.95 and a low of Rs 526. With a market capitalisation of Rs 96,287 crore, DLF is now among the top 10 companies trading on Indian exchanges. It raised about Rs 9,100 crore in one of largest IPOs to hit the Indian stock market. Of the proceeds, the company proposes to utilise Rs 3,500 crore for acquisition of land and development rights, Rs 3,493 crore for development and construction cost for existing projects and the rest for prepayment of loans. The company said that it has a land reserve of 10,225 acres with a development potential of 554 million sq ft.
More Stories on : IPOs | Real Estate & Construction
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