vengabeats
Nilesh Nagdev
Real estate giant DLF's scrip touched a high of Rs 714.25 after getting listed at Rs 582 on the Bombay Stock Exchange on Wednesday.
The shares got listed at Rs 582, a 10.85 per cent premium over issue price of Rs 525.
In the first 15 minutes of trade, the scrip reported turnover of around Rs 330 crore (Rs 3.30 billion) as around 60 lakh (6 million) shares changed hands on the BSE.
They traded in the range of Rs 550 to Rs 560 after touching a low of Rs 505.60.
Billionaire K P Singh-promoted DLF, which offered 17.5 crore (175 million) equity shares through 100 per cent book-building process, fixed the price band at Rs 500-550 per share. The mega-issue is being valued at Rs 93,700 crore (Rs 937 billion) on the upper band.
The proceeds of the issue, which got oversubscribed 3.5 times, would be deployed to meet costs of construction, land acquisition and repayment of debt.
Global financial firm Merrill Lynch Capital Market holds 1.26 per cent stake in DLF. The developer is planning to set up 35-40 new movie screens across the country with an investment of about Rs 160 crore (Rs 1.60 billion) over the next two years.
Source : http://www.rediff.com/money/2007/jul/05dlf1.htm
The shares got listed at Rs 582, a 10.85 per cent premium over issue price of Rs 525.
In the first 15 minutes of trade, the scrip reported turnover of around Rs 330 crore (Rs 3.30 billion) as around 60 lakh (6 million) shares changed hands on the BSE.
They traded in the range of Rs 550 to Rs 560 after touching a low of Rs 505.60.
Billionaire K P Singh-promoted DLF, which offered 17.5 crore (175 million) equity shares through 100 per cent book-building process, fixed the price band at Rs 500-550 per share. The mega-issue is being valued at Rs 93,700 crore (Rs 937 billion) on the upper band.
The proceeds of the issue, which got oversubscribed 3.5 times, would be deployed to meet costs of construction, land acquisition and repayment of debt.
Global financial firm Merrill Lynch Capital Market holds 1.26 per cent stake in DLF. The developer is planning to set up 35-40 new movie screens across the country with an investment of about Rs 160 crore (Rs 1.60 billion) over the next two years.
Source : http://www.rediff.com/money/2007/jul/05dlf1.htm