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Friday, June 09, 2006

DLF may cut the size of India's biggest IPO

Indian real estate firm DLF Universal Ltd. may trim its planned Rs 3.5 billion share offer, India's largest IPO, amid a slide on the Mumbai share markets, reports Reuters.

"It is quite possible that the size could be cut but the decision will be taken next week after getting a feel about how much the investors are willing to pay," a senior banking source said.

Other sources also said the deal size may be cut. The BSE's main index has fallen by a quarter since it hit a record peak on May 11th, the day before DLF filed its offer document for the share sale.

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