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DLF puts public offering plans on hold

New Delhi, Aug 31 (IANS) Real estate developer DLF Ltd, formerly known as DLF Universal Ltd, which was expected to come out with one of the largest initial public offering (IPO), has put its plans on hold.

Thursday, August 31, 2006 | 9:08:41 PM IST (+05:30 GMT)
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New Delhi, Aug 31 (IANS) Real estate developer DLF Ltd, formerly known as DLF Universal Ltd, which was expected to come out with one of the largest initial public offering (IPO), has put its plans on hold.

The plans since the filing of the draft red herring prospectus with Securities and Exchange Board of India (SEBI) in May seems to have undergone a change with the DLF Thursday announcing that in the last four months its financial position has improved and it would be expeditiously updating the information and re-submit the draft red herring prospectus with SEBI.

'The company felt that due to lapse of four months since the filing, the financial information in the draft red herring prospectus had become outdated and needed to be updated,' DLF statement said.

'Additionally, during the last four months, the company's business had also progressed substantially,' it added.

Copyright : Indo-Asian News Service
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