As the front runner in India’s real estate development, what more could one expect?

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And a broker who did not wish to be quoted told B&E that the going grey market price for the share was Rs.900, according to which this worth would shoot up even further to a mind boggling $31.3 billion. It is no wonder, therefore, that speculators feel that the DLF IPO would propel K. P. Singh to the topmost ranks of the world’s richest.

Of course, some things can be too good to be true, and DLF faces this very quagmire currently. For K. P. Singh, the adage, “Wait for the right time and you will have to wait forever” seems to be quite apt. SEBI is still investigating the charges by minority shareholders against DLF. And there is another issue that has cropped up recently; SEBI seems adamant to come down heavily on real estate companies that state their land valuations on futures in their red herring prospectus, which could affect DLF as well. And to top it all, while the minority shareholders issue spoilt the party last year; this time around, it seems that the entire real estate market seems to be catching cold feet.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative