Confirming the development, Concept's managing director Vivek Suchanti, said the role of his firm would be to target both retail investors and high networth individuals. "Our focus is going to position DLF as the country's largest real estate developer."
According to industry sources, the communications account allocated for the IPO, to be announced in June or July this year, is projected to be over US$6.5m.
Although the group is venturing into the hospitality sector, Concept will concentrate on highlighting DLF's expertise over the last six decades and its wide-ranging portfolio that spans across residential, commercial, entertainment, recreation and retail industry sectors.
Mumbai-based Suchanti is working in conjunction with senior management teams from New Delhi and Mumbai. "Our chief executive officer Ashish Jalan and president B. N. Kumar (from Mumbai) and directors Ravi Aurora and V. K. Cherian from New Delhi are working on this enterprise. We are coordinating with DLF's managing director A. D. Rebello and vice president Vijay Vancheswar for the same," he said.
"We are going to focus on 15 cities in India. We will be conducting roadshows in foreign markets such as the US, London, Frankfurt, Middle East and Far East among others," said Suchanti. Goldman Sachs and Merrill Lynch have been appointed advisers on the issue.
Concept Communications has recently carried out IPO communications work for clients such as Sun TV and JK Cement and future clients include low-cost carrier Air Deccan and GMR Infrastructure, according to Suchanti.