Indian IPO

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Wednesday, January 03, 2007

DLF likely to file revised IPO prospectus

Real estate giant DLF is likely to file today the revised draft prospectus with market regulator Sebi for its initial public offer, IPO, which could be India's largest issue at over Rs 10,500 crore, reports agencies.

The company is likely to file its revised draft red herring prospectus with Sebi today, market sources said.

DLF had only last month resolved differences with minority shareholders regarding allotment of debentures, which paved the way for revival of its IPO process.

Minority shareholders had filed a complaint with Sebi alleging they did not receive the letter of offer of the debenture issued in December last.

The minority shareholders issue was the major reason for the collapse of its much-hyped IPO in August, when the company had to withdraw its draft prospectus from Sebi after failing to get the required regulatory approvals.

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