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DLF's Share Sale Oversubscribed

Indian real-estate company DLF Ltd.'s (532868.BY) stake sale Tuesday to raise at least 18.00 billion rupees ($328.2 million) received bids for more shares than it offered, stock exchange data showed.India's biggest real-estate firm by sales offered 81.02 million shares to institutional investors at a minimum price of 222 rupees a share. It received bids for 147.7 million shares, data on the National Stock Exchange's website showed late Tuesday.It wasn't immediately clear if this was the final figure. The exchange also didn't provide the average bid price.DLF executives couldn't be reached for a comment.The company is selling the shares to mainly meet a new rule that requires all listed private companies to have at least a 25% public shareholding by the end of June. DLF's founders held 78.58% of the company at the end of March and the shares it offered Tuesday totaled 4.8% of its stake, according to data from the Bombay Stock Exchange.DLF had said that it would use the proceeds from the...

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  1. Unilever to Increase its Stake in Hindustan Unilever

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