"The company is happy that the investor community from across the world - from FIIs to HNIs and retail investors - repose immense confidence in the company's strong fundamentals," DLF executive director Rajeev Talwar said.

DLF, which received bids for more than three times the 17.5 crore shares on offer, had fixed the price band of the issue at Rs 500-550 a share. At the upper band, it could have raised Rs 9,625 crore (Rs 96.25 billion).

The company saw demand of over Rs 30,000 crore (Rs 300 billion) for its shares on the offer, with the strongest interest coming from FIIs.

"The successful sale highlights the increasing depth and breadth of the Indian capital market and demonstrates the appetite for quality issues," Patti McLaughlin, vice chairman (Investment Banking) of lead manager DSP Merrill Lynch, said.

The IPO is the biggest maiden issue by any Indian firm and received a decent response from investors, especially from Qualified Institutional Buyers. It received bids for about 60.7 crore (607 million) shares after the four-day book building process, which ended yesterday.

Qualified institutional buyers portion was oversubscribed 5.12 times, while non-institutional investors and retail saw subscription of 1.14 times and 0.97 times respectively.

DLF is poised to become the country's most valued real estate company following its listing, which is expected in first week of July. Rival builder Unitech is currently the country's largest listed real estate firm.