Dilip Buildcon has listed at Rs 240 on the bourses, a 10% premium against its issue price of Rs 219 per share. LINK At 10:02 am, the stock was trading at Rs 245 on National Stock Exchange (NSE) and BSE (Bombay Stock Exchange).
A combined 7.63 million shares changed hands on the counter so far. The infrastructure firm which raised Rs 654-crore through initial public offering (IPO) attracted massive demand with the offer getting oversubscribed by around 21 times. The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 9.76 times, while non-institutional investors (NIIs) category received 79.64 times subscription and retail investors 2.35 times. The firm plans to deploy the capital raised from the IPO towards repayment of loans and for working capital requirements. Bhopal-based Dilip Buildcon is a leading road-focused engineering, procurement, and construction (EPC) firm in the country.