Why dhclient is failing to get ip address on a virtual interface for a VM running on VMWare ?

Issue

• After adding a virtual interface, dhclient command fails with error as shown below while trying to assign ip to that virtual interface.

[root@example ~]# ip link add virtual2 link eth0 type macvlan mode bridge
[root@example ~]# 
[root@example ~]# dhclient -v virtual2 -pf /tmp/dhcp-virtual2.pid
Internet Systems Consortium DHCP Client 4.1.1-P1
Copyright 2004-2010 Internet Systems Consortium.
All rights reserved.
For info, please visit https://www.isc.org/software/dhcp/

Listening on LPF/virtual2/56:8d:03:8a:xx:xx
Sending on   LPF/virtual2/56:8d:03:8a:xx:xx
Sending on   Socket/fallback
DHCPDISCOVER on virtual2 to 255.255.255.255 port 67 interval 6 (xid=0x37a102a5)
DHCPDISCOVER on virtual2 to 255.255.255.255 port 67 interval 7 (xid=0x37a102a5)
DHCPDISCOVER on virtual2 to 255.255.255.255 port 67 interval 14 (xid=0x37a102a5)
DHCPDISCOVER on virtual2 to 255.255.255.255 port 67 interval 9 (xid=0x37a102a5)
DHCPDISCOVER on virtual2 to 255.255.255.255 port 67 interval 14 (xid=0x37a102a5)
DHCPDISCOVER on virtual2 to 255.255.255.255 port 67 interval 11 (xid=0x37a102a5)
No DHCPOFFERS received.
No working leases in persistent database - sleeping.
[root@example ~]# 

• /var/log/messages also has same error like No DHCPOFFERS received.