On Wednesday, real estate giant DLF Ltd priced its $345 million (more than Rs 81 billion) share issue at Rs 230 apiece.

Earlier, reports suggested that the real estate giant's most recent share sale got oversubscribed 1.3 per cent.

While the India's biggest rear estate firm offered 81.02 million shares to institutional investors at a price band of Rs222-Rs223 apiece; while the investors made bids for 147.7 million shares.

The company launched the share sale in order to meet market regulator SEBI's new rule that requires all listed private firms to have a minimum of 25 per cent public shareholding by the end of June this year.

According to data released by the Bombay Stock Exchange (BSE), DLF founders had 78.58 per cent state in reality firm. The share sale, which it offered on Tuesday this week, accounted for 4.8 per cent of the founders' stake in the firm.

DLF has plans to use the proceeds from the share sale to cut its debt. As of December's end, it was burdened with a debt pile of Rs 213.5 billion.