DLF IPO receives 1.96 times subscription

The Initial Public Offering (IPO) of DLF Ltd has received subscription of 1.96 times on Day 3. The company has received total bids for 343384500 equity shares against the offer of 175000000 shares. The issue has received bids for 9648480 shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the IPO has received bids for 331523690 equity shares against the offer of 104400000 shares resulting in a subscription of 3.1755 times.

The IPO has received poor response from other category of investors. The Non Institutional Investors portion of the issue has received subscription of just 0.0491 times with bids for 853530 shares against the offer of 17400000 shares.

The Retail Individual Investors (RIIs) portion of the issue has received bids for 10502590 shares against the offer of 52200000 shares resulting in a subscription of 0.2012 times. The Employee Reservation has received subscription of 0.5047 times with bids for 504690 shares against the offer of 1000000 shares.

The IPO closes for subscription tomorrow - Thursday - June 14, 2007.

Source : Equity Bulls

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