Investors are flocking to Indian real estate group DLF’s $2.4bn initial public offering. Financial Times

By the second day of the offering yesterday, investors had applied to buy the equivalent of 1.3 times the number of shares on offer.

'This company has a large, quality land bank and it is one of most experienced players in the country,' said Manish Balwani, analyst with Emkay, a Mumbai brokerage.

Investor demand sends a positive signal for the wave of planned Indian share issues this year, among them real estate company Emaar MGF, which is planning a $2.9bn offering.