RSS FeedDLF May File A New IPO Prospectus With SEBI In A Month; Apologises
Sat, 09/30/2006 - 08:50 — Sahad P VReal estate giant DLF Group is likely to file a new IPO prospectus with market regulator Securities Exchange Board of India. The filing is expected by end of October or early November this year. DLF had withdrwan its IPO prospectus after it failed to get a clearance from the regulatory authorities. The company had got into a soup following a spat with minority shareholders on a rights issue the company had done a few years ago.
The company is also waiting for the report from Ministry of Company Affairs on the issue.
DLF IPO was hyped as the country's biggest ever public issue as it had valued the company at some Rs 100,000 crore. The company was looking to raise some Rs 13,000 crore from the IPO. [Via Moneycontrol]
Updated: Indian Express reports: In a significant development, DLF Universal is believed to have apologised to its minority shareholders and has assured them that steps would be taken to settle the dispute over the rights debentures issue within one month. In a meeting with minority shareholders today, vice chairman of DLF, Rajiv Singh apologised for not redressing the grievances of minority shareholders earlier and assured them that an advisory committee would be set up to look into the modalities of how the issue could be resolved. Singh is also believed to have said that the settlement is in favour of shareholders.
The DLF Saga
Real Estate Giant DLF Group Plans Mega IPO
DLF IPO To Be Delayed Following Investigation Into Shareholder Complaints
DLF Valuation: From Rs 100 Crore To Rs 100,000 Crore In Three Years!
DLF IPO Put Off Again; To Resubmit Draft Prospectus With SEBI
Here's an interesting take
, October 03, 2006Here's an interesting take by FT on the phenomenon of 'flipping' (Private equity groups' floatation of the acquiree within a year of acquisition)
'Flips' fail to create long-term value for equity investors because such offerings underperform other listings and the market, according to an academic study.
The report by Josh Lerner, professor of investment banking at Harvard Business School, and Jerry Cao of Boston College, could reignite controversy over