 "Dilip Buildcon IPO subscribed 7% on day one")
Infrastructure firm Dilip Buildcon's initial public offering (IPO) garnered seven per cent subscription on Monday, the first day of the issue.
The IPO received bids of nearly 1.6 million shares as against 21.4 million on offer.
On Friday, the Bhopal-based company had raised around Rs 196 crore from anchor investors by allotting them nearly nine million shares at Rs 219 apiece.
The company has priced its Rs 650 crore offering in the range between Rs 214 and Rs 219 per share.
Dilip Buildcon is raising Rs 430 crore in fresh capital, which will be used towards repayment of loans and working capital requirements.
Another Rs 220 crore of the issue will be offer for sale by existing shareholders, including BanyanTree Growth Capital. The IPO closes on August 3.
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