Dilip Buildcon debuts on equity markets at 10% premium

Dilip Buildcon on Thursday made a robust debut on Indian equity markets. The shares of the company were listed at Rs 240, at a premium of 9.8% as against the issue price of Rs 219.

At 1122 hours the shares of the company were trading at Rs 246.05, up 2.48% and 12.31% up from the issue price.

Bhopal-based company opened its Initial Public Offering (IPO) on August 1 for around 1.02 crore shares to raise Rs 430 crore. 

The three-day IPO received overwhelming response from investors as it was oversubscribed by 20.95 times. Reportedly, the company managed to raise Rs 664 crore via IPO.

The price band for it was fixed at lower band of Rs 214 and upper band at Rs 219.