DLF has received approval from market regulator Securities and Exchange Board of India for its initial public offer, through which it is expected to raise a record Rs 13,600 crore (Rs 136 billion). "
"We have received Sebi's clearance for the IPO," a company official said.
The approval, which will pave the way for the company's plan to tap the capital market, comes nearly a year after it first filed the draft prospectus.
The company had filed a renewed prospectus in January this year after its first attempt came to nought due to certain regulatory objections over minority shareholders' complaints against the company.
It had filed its first prospectus in May 2006, which it had to withdraw in August same year.