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Fresh DLF draft for IPO in Nov

New Delhi, Oct. 11 (PTI): Real estate major DLF is likely to file a draft prospectus to raise an estimated Rs 13,500 crore through a public offer by next month after resolving the contentious issues relating to minority shareholders, which had upset its plans to hit the market earlier this year.

“We will be filing the prospectus for IPO only after resolving the minority shareholders’ issue,” DLF chief financial officer Ramesh Sanka said.

He said the company was working toward filing the prospectus by the end of November.

However, he declined to comment on how the company plans to resolve the minority shareholders’ issue, which was one of the major reasons for the collapse of the much-hyped initial public offering that could have made DLF promoter K.P. Singh the country’s richest billionaire.

The new prospectus would be updated with financial as well as other developments that has taken place in the company till September, he said.

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