DLF, the country’s largest real estate firm in market value, had launched its qualified institutional placement (QIP) offering up to 17.3 crore shares to investors on Monday. The QIP offer has been over-subscribed by two times at a price of around Rs 183-184 per share.
Major institutional investors who have participated in QIP offer are Oppenheimer, UBS, HSBC, Marshall & Wace, Myriad, Key Square, Goldman Sachs, Indus, Eastbridge, Tata Mutual Fund, and HDFC Mutual Fund. The QIP will close on Friday with the issuance of shares to institutional investors.
DLF’s Group Chief Financial Officer Ashok Tyagi recently said the “QIP proceeds and further infusion of Rs 2,500 crore from promoters against the issue of warrants would help the company significantly reduce the debt that stood at around Rs 7,200 crore as on December 31, 2018.”
DLF launched its QIP on Monday at a  price of Rs. 193.01 per equity share, there might be a discount of up to 5 percent on the floor price, said the company. This is the third major fundraising from DLF. In 2007, DLF raised about Rs 9,200 crore through an initial public offering (IPO). In 2013, the company had raised nearly Rs 1,900 crore through an institutional placement programme.
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