Dilip Buildcon IPO subscribed fully
DSIJ Intelligence / 03 Aug 2016
Dilip Buildcon Ltd., IPO has been subscribed fully on day three of the issue. On August 3 , the last day of the issue the shares got subscribed fully. The issue got subscribed as Overall = 1.0x; QIB (Qualified institutional buyers) = 1.1x; HNI (High Networth Individual) = 1.1x, Retail = 1.0x indicating good response from investors.
Dilip Buildcon Ltd., IPO has been subscribed fully on day three of the issue. On August 3 , the last day of the issue the shares got subscribed fully. The issue got subscribed as Overall = 1.0x; QIB (Qualified institutional buyers) = 1.1x; HNI (High Networth Individual) = 1.1x, Retail = 1.0x indicating good response from investors.Total shares available in the fresh issue are 21,362,138 and the number of shares subscribed are 22,321,520.
The issue price for Dilip Builcon IPO is Rs 214 – Rs 219. The face value for the share is Rs 10 and the market lot is 65 shares.
Dilip Buildon Ltd., is a Bhopal, MP based Engineering, Procurement and Construction (EPC) contractor focused on road projects in India .
The company in its IPO filing said that the proceeds from the fresh issue will be utilised towards the following objects:
A. Prepayment or scheduled repayment of a portion of term loans availed by the company;
B. To meet working capital requirements; and
C. General corporate purposes.
Company's core business is undertaking construction projects across India in the roads and irrigation sectors. Dilip Buildcon specialises in constructing state and national highways, city roads, culverts and bridges. Company has expanded into the irrigation and urban development businesses.
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