Dilip Buildcon shares made a robust debut on bourses and listed at Rs 240, up 9.59 per cent, against the issue price of Rs 219.
Dilip Buildcon shares made a robust debut on bourses and listed at Rs 240, up 9.59 per cent, against the issue price of Rs 219. The issue was opened for subscription from August 1 to August 3 and the public offer received an overwhelming response from investors as it was oversubscribed by 20.95 times. The company had fixed a price band of Rs 214-219 per equity share of face value of Rs 10 each.
At 10.07 am, shares of Dilip Buildcon were trading 11.44 per cent up at Rs 244 against the issue price on BSE. On NSE, scrip of the company was trading at Rs 244.15 at the same time. The company is a Bhopal-based infrastructure player focused on road projects in India. The scrip closed at Rs 250.95 on BSE. On NSE, it ended at Rs 254.10.
Axis Capital, IILF Holdings, JM Financial Institutional Securities and PNB Investment Services were the book running lead managers to the Issue. Dilip Suryavanshi, Seema Suryavanshi and Devendra Jain and Suryavanshi Family Trust are promoters of the company.
The company had posted a compounded annual growth rate (CAGR) of 36 per cent and 19 per cent in standalone topline and bottomline figures in the past five years.