Second time lucky: DLF gets Sebi

It had filed its first prospectus in May 2006, which it had to withdraw in August that year. K P Singh-owned DLF proposes to enter the capital market with a public issue of 17.5 crore equity shares of Rs 2 each through a 100 per cent book building process.

The post-issue dilution of the proposed issue would be over 10 per cent. 8220;The company could raise more than or equal to Rs 13,600 crore,8221; a company official had said in January. The fund will be deployed to meet construction costs, land acquisition and repayment of debt. Asked when the issue would open, the official said: 8220;We are on the job.8221; Bankers said it will take at least a month as the issue size is big.

DLF plans to raise the same amount of about Rs 13,600 crore in its second attempt but with lesser shares being offered through the IPO, which reflects the company8217;s increased valuation over last year.