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28-Jul2016

Dilip Buildcon to hit capital markets to raise around Rs 664 crore

Dilip Buildcon is coming out with a 100% book building initial public offering (IPO) of 30,320,730 equity shares of face value of Rs 10 each in a price band Rs 214 - Rs. 219 per equity share. The issue will open August 01, 2016 and will close on August 03, 2016.

The Net Proceeds from the Fresh Issue will be utilized for the prepayment or scheduled repayment of a portion of term loans availed by the Company; to meet working capital requirements; and General corporate purposes.

The issue will open for subscription on August 1, 2016 and will close on August 3, 2016. The Book running lead managers to the issue are Motilal Oswal Investment Advisors and Centrum Capital (India), while the compliance officer for the issue is Abhishek Shrivastava.

The core business of the company is undertaking construction projects across India in the roads and irrigation sectors. They specialize in constructing state and national highways, city roads, culverts and bridges. As a result of the natural growth of their road construction business, as well as the recent government support to the infrastructure sector and rising opportunities in new business areas, they recently expanded into the irrigation and urban development businesses.


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