Monday, May 28, 2007


Post-listing, real estate major DLF will find a place among the top-10 companies in terms of market capitalisation.
The Delhi-based company's total enterprise value stands at Rs 85,221 crore on the lower side of the price band of Rs 500 a share on the total equity capital of Rs 340.88 crore of Rs 2 paid-up equity share. The company has announced a price band of Rs 500-550 a share for its upcoming mega initial public offer (IPO) of Rs 9,625 crore. On the higher side, DLF's current enterprise value stands at Rs 93,743 crore. DLF will occupy the eighth position in terms of market capitalisation ranking, after Reliance Communications (Rs 1,03,110 crore) and before ICICI Bank (Rs 82,119 crore).
The company's enterprise value of Rs 85,221 crore constitutes 50 per cent of the total market capitalisation of real estate stocks listed on the Bombay Stock Exchange (BSE). It is almost 100 per cent of the total market value of real estate stocks. The real estate sector will cross the market capitalisation of Rs 1,70,000 crore after the DLF listing. The sector will be among the top-ten sectors after telecommunication, oil exploration and power and ahead of pharmaceuticals, steel and engineering sectors.
Unitech with a market capitalisation of Rs 44,403 crore tops the list of the construction sector.