Comments
Bhopal-based Dilip Buildcon is launching its public offer from August 1. The IPO is a fresh issue of ₹430 crore and offer-for-sale of over 1.02 crore shares in a price band of ₹214-219 a share, amounting to a total offer size of ₹655 crore at the upper end of the price band. The face value of each share is ₹10. The minimum bid lot is 65 and in its multiples thereafter. The offer closes on August 3.
Dilip Buildcon is a private sector road-focused EPC contractor that is building roads, bridges, dams, canals, and water supply, among others, worth ₹17,530 crore in 12 States. The company plans to use the net proceeds of the fresh issue for prepayment or scheduled repayment of a portion of term loans, to meet working capital requirements and for general corporate purposes. The offer-for-sale is being made by promoters Dilip Suryavanshi and Devendra Jain, and BanyanTree Growth Capital, LLC.
Axis Capital, IIFL Holdings, JM Financial Institutional Securities and PNB Investment Services are the merchant bankers to the issue.
The shares are proposed to be listed on the NSE and the BSE.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.