The bid price of the contract is Rs 125.01 crore and construction period is 24 months
Dilip Buildcon might opt for a follow-on public offer during the year
The company's stock was trading 2.02% higher at Rs 348.40 on the BSE
The stock dipped 13% to Rs 220 on the BSE in intra-day trade
The stock closed at Rs 252, compared to the initial public offer price of Rs 219
The stock listed at Rs 240 on the bourses, a 10% premium against its issue price of Rs 219 per share.
Company's IPO had attracted massive demand, with the offer getting subscribed by around 21 times
The Rs 650-crore initial public offering (IPO) of infrastructure firm Dilip Buildcon saw 20 times more demand than shares on offer. The offering closed on Wednesday. The 21.4-million share offering saw 444 million bids, data provided by stock exchanges showed.The high net worth (rich) investor portion of the IPO was subscribed around 80 times, while the institutional (big money) investor portion saw nearly 10 times more demand than shares on offer. Demand was lukewarm in the retail (small) investor segment, with the category seeing only two times subscription. Around 50 per cent of the issue was reserved for institutional investors, 35 per cent for retail investors, and 15 per cent for high net worth individuals (HNIs). The company raised Rs 430 crore by issuing fresh shares in the IPO, while the remaining Rs 220 crore of the issue was offer for sale by the existing shareholders, including BanyanTree Growth Capital.The price band for the IPO was fixed at Rs 214-219 per share. "On valua
The 21.4-million share offering saw bids for nearly 444 million shares, data provided by stock exchanges showed
Dilip Buildon's IPO closes Wednesday, that of SP Apparels on Thursday
On Friday, company had raised Rs 196 cr from anchor investors, allotting them 9 mn shares at Rs 219 apiece
Reasonable valuations and differentiated biz model make the IPO attractive
Reasonable valuations and differentiated business model make the IPO attractive
The company has priced the offering in a range between Rs 214 and Rs 219 per share