DLF Ltd hogged the limelight on its first day at the bourses as it traded at Rs. 582.5 per share on the BSE, 11% over its issue price. The developer has been in the news with its IPO raising USD 2.25 billion last month.

Real estate firms topped the stock market earlier this week, with Unitech performing better by 3.5%, Ansals by 13%, L&T by 1.1% and HCC by 5%, but plummeted today by 4 to 7%. Unitech and Akruti Nirman nosedived by 5.7%, Ansals by 7%, Parsvnath by 6.7% and Sobha Developers by 4.2%. L&T however, braved the tide and appreciated by 2.4% today.

Mumbai-based Housing Development and Infrastructure Limited (HDIL) received a rousing reception to its initial public offer last week, bettering DLF with subscriptions filed six and a half times over.

For 29.70 million shares within a price band of Rs.430 to Rs.500 per share, HDIL received 193.09 million bids on the BSE and NSE. This comprises 13.86% of the company’s post-issue paid-up capital if the greenshoe option is not exercised.

The IPO places HDIL with a better market capitalization than Parsvnath and Sobha Developers at Rs.10, 000 crore

Indiabulls Real Estate has been actively exploring the overseas market for funds and has collected USD 400 million from the sale of global depository receipts (GDRs), which were priced at USD 10.32 each, at a discount of Rs.41. The company’s share price prevailed around Rs.452.95 on Monday.

Meanwhile, DLF Assets, has received investments to the tune of USD 600 million from Lehman Brothers Holdings and hedge fund manager D E Shaw & Co through compulsorily convertible preference shares.

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