 "Dilip Buildcon to make stock market debut on Thursday")
Shares of infrastructure firm Dilip Buildcon, which recently concluded its Rs 654-crore initial public offering (IPO), will make its stock market debut on Thursday.
Dilip Buildcon's IPO had attracted massive demand, with the offer getting subscribed by around 21 times.
The portion set aside for qualified institutional buyers was oversubscribed 9.76 times, while non-institutional investors category received 79.64 times subscription and retail investors 2.35 times.
The company had fixed the price band at Rs 214-219 per share for its IPO which was open from August 1-3.
Proceeds of the issue will be utilised towards repayment of debt and meeting working capital requirements.
Dilip Buildcon, which is primarily into construction of roads and highways, has an order book of almost 8,000 km, worth over Rs 11,000 crore, to be executed over the next two-and-a-half years.
The lead managers were Axis Capital, IIFL Holdings, JM Financial Institutional Securities and PNB Investment Services.