India's largest real estate company - DLF Ltd., DLF Chairman KP Singh will conduct the largest initial public offering (IPO) in the Indian stock market, making the Singh family that controls the company among the world's top richest people.

DLF India Limited issued 175 million shares on the stock market, with the price range per share ranging from 500 rupees (about 40 rupees to 1 US dollar) to 550 rupees.

If the sale is successful, the company is expected to raise at least 87.5 billion rupees (about 2.1 billion U.S. dollars).

DLF Chairman KP Singh and his family own 97.4% of DLF's shares. Once the company's shares are successfully issued, the family may have a wealth of more than US$18 billion.

Singh expressed optimism about the company's stock issuance prospects, saying that if investors do not buy DLF shares, they will miss out on a good opportunity to make money.

India's economic growth rate is close to 9%, driving up real estate prices.

DLF has a large land bank in the suburbs of New Delhi and other big cities by buying it from farmers at low prices, so the company's performance has soared.

India's real estate market is already showing signs of cooling.

Driven by rapid economic growth, appreciation of the rupee and overseas investment, the Indian stock market has become the third emerging market stock market after China and Russia to have a market capitalization of over US$1 trillion.

Ashish Goyal, fund manager of Prudential Asset Management (Hong Kong), said that the profit growth of Indian companies has been very good, and a market with such good profits cannot be ignored.

The market value of India's stock market is also close to its GDP, which proves the rapid development of India's equity capital market from another perspective.

The Bank of India has adopted an active tightening monetary policy, and the sharp appreciation of the Indian rupee has also led to a slowdown in exports, and India's economic growth will tend to be moderate.