DlF, a leading real estate developer will raise up to Rs 1,888 crore through sale of 8.1 crore equity shares to institutional investors on May 14.
The issue of shares via institutional placement programme (IPP) is being done to meet market regulator SEBI's guideline on minimum 25 per cent public shareholding by June 30 for private sector listed companies.
The company has fixed a price band of Rs 222-233 per share for its 8.1-crore share offer.
In a filing to the BSE, DlF said "the Equity Issuance Committee of the Board of Directors...Has finalised May 14, 2013 as the issue opening and closing date.
"Further, the floor price has been finalised at Rs 222 per equity share with price band of Rs 222 to Rs 233 per equity share," the filing added.
last month, DlF's shareholders approved the sale of fresh equity shares to meet market regulator Sebi's public shareholding norms. Promoters have 78.58 per cent stake in the company as on March 31.