DLF Ltd, is entering the capital market on 11th June 07 with a public issue of 17.50 crore equity shares of Rs.2 each in the price band of Rs.500 - Rs.550 per share. At the upper band, issue would mobilize Rs.9,625 crores.
The company has land reserve of 10,255 acres as on 30-11-06 of which 51% is in NCR region, 23% in Kolkata, 5% each in Goa and Maharashtra, 4% in Punjab, 3% in Indore and 2% in Bangalore. This land will result in 574 million sq. ft. developed/saleable area.
The company presently has 46 million sq. ft. of area under construction as on 30-11-06 of which 9 million is residential, 26 million commercial and 11 million retail. The company has about 26,100 acres land in its SEZ portfolio.
For 8 month ending 30-11-06, the company has achieved a topline of Rs.3,324 crores and PAT of Rs.1,830 crores. For FY 06, the topline was Rs.1,242 crores and bottomline was Rs.192 crores. The present equity base of the company is Rs.305.73 crores. Post issue, promoters stake will get diluted by about 10 per cent with their stake falling to about 88%.
The company has estimated fund requirement of Rs.6,500 crores for acquisition of land as also making balanace payment for land acquired and Rs.3,494 crores for construction and development. The company has outstanding payment to be made of Rs.5,538 crores as at 30-11-06 for land acquired or agreed to be acquired
The Global co-ordinator and BRLM to the issue are Kotak and DSP.