News: Post IPO, DLF’s Singh to enter the Super Rich club
(TNN 10/04/2006) New Delhi - Wipro’s Azim Premji dominated the global list of the Indian Richie Rich for a while before steel tycoon LN Mittal not only replaced him, but came tantalisingly close to the No. 1 billionaire, Microsoft’s Bill Gates. Founder and chairman of DLF group KP Singh may well end-up becoming one of the richest Indians on the planet, and that’s after his company’s proposed mega IPO.
According to sources, investment bankers have valued the DLF group between $20-25 bn. The size of the DLF float will be in the vicinity of $2 bn, it is reliably learnt. Currently, the holding of KP Singh and family in the flagship company, DLF Universal, is at 99.5 % which after the expansion of equity post-IPO would come down to around 90%.
This will value KP Singh’s stake in the company at anywhere between $18-22.5 bn depending on market conditions, making him one of the richest Indians. At present, steel tycoon LN Mittal is the richest Indian in the Forbes list with an estimated net worth of $20 bn.
Depending on market conditions, Mr Singh could come very close to or even surpass this figure. According to the Forbes listing, the richest resident Indian is Wipro’s Azim Premji, with a net worth of $11 bn. KP Singh was ranked fifth among the Indian billionaires list in the Forbes ranking.
With this valuation, DLF is also likely to be one of the largest companies on the Indian stock exchanges in terms of market capitalisation.
At these levels, DLF market cap post-listing could be close to Rs 90,000 crore, which would be 77 % of Reliance Industries’ market cap and almost equal to that of TCS’. It will trounce Infosys Technologies and Bharti Tele-Ventures — which are ranked number five and six in the market cap sweepstakes — very comfortably.
DLF has already developed 3,500 acres of land in Gurgaon in North India and is now going national. Industry sources say that the group wants to be the largest construction and real estate company in India with plans to develop 100,000 acres of land in the next five years.
According to sources, investment bankers have valued the DLF group between $20-25 bn. The size of the DLF float will be in the vicinity of $2 bn, it is reliably learnt. Currently, the holding of KP Singh and family in the flagship company, DLF Universal, is at 99.5 % which after the expansion of equity post-IPO would come down to around 90%.
This will value KP Singh’s stake in the company at anywhere between $18-22.5 bn depending on market conditions, making him one of the richest Indians. At present, steel tycoon LN Mittal is the richest Indian in the Forbes list with an estimated net worth of $20 bn.
Depending on market conditions, Mr Singh could come very close to or even surpass this figure. According to the Forbes listing, the richest resident Indian is Wipro’s Azim Premji, with a net worth of $11 bn. KP Singh was ranked fifth among the Indian billionaires list in the Forbes ranking.
With this valuation, DLF is also likely to be one of the largest companies on the Indian stock exchanges in terms of market capitalisation.
At these levels, DLF market cap post-listing could be close to Rs 90,000 crore, which would be 77 % of Reliance Industries’ market cap and almost equal to that of TCS’. It will trounce Infosys Technologies and Bharti Tele-Ventures — which are ranked number five and six in the market cap sweepstakes — very comfortably.
DLF has already developed 3,500 acres of land in Gurgaon in North India and is now going national. Industry sources say that the group wants to be the largest construction and real estate company in India with plans to develop 100,000 acres of land in the next five years.
posted by InCar Group Press Room at 22:30
0 Comments:
Post a Comment
<< Home