Mumbai: The mega initial public offer of realty giant DLF, through which the developer is expecting to garner Rs9,625 crore, got fully subscribed on 12 June 2007.
The IPO was subscribed 1.04 times on its second day of offer, receiving 182.7 million bids for 175 million shares on offer, latest data available on the stock exchanges shows.
Besides, 23,13,020 bids were received at cut-off price, the data shows.
The issue had received bids for 78% shares on 11 June, when the IPO opened for subscription.
The qualified institutional buyers (QIB) portion constituting of foreign institutional investors, domestic financial institutions and Mutual Funds was subscribed 1.28 times the shares reserved for them on the first day itself.
K.P. Singh-promoted DLF, which is offering 175 milion equity shares through 100% book-building process, has fixed the price band at Rs500-550 a share. The mega-issue would make it among the 10 largest firms on the bourses with a value of Rs93,700 crore ($23 billion) on the upper band.
The issue would close on 14 June. It would constitute 10.27% of the fully diluted post-issue capital of the company.