Bhopal-based Dilip Buildcon limited (“Company”), a private sector road-focused EPC contractor in India will be launching its initial public offering (“IPO” or the “Issue”) which is scheduled to open on August 1, 2016 and close on August 3, 2016, with a price band of Rs. 214 – Rs. 219 per Equity Share of face value of Rs. 10 each of the Company (the “Equity Shares”). The Anchor Investor Bid/Issue Period shall be July 29, 2016, being one working day prior to the Issue opening date.
The IPO comprises of fresh issue Equity Shares aggregating up to Rs.4,300 million and an offer for sale of up to 1,136,364 Equity Shares by Dilip Suryavanshi, up to 1,136,364 Equity Shares by Devendra Jain and up to 7,954,545 Equity Shares by the BanyanTree Growth Capital, llC.
The Company proposes to utilize the net proceeds of the Fresh Issue for prepayment or scheduled repayment of a portion of term loans availed by our Company to meet working capital requirements and general corporate purposes. Company will not receive any proceeds from the Offer for Sale.
Axis Capital limited, IIFl Holdings limited, JM Financial Institutional Securities limited (formerly JM Financial Institutional Securities Private limited) and PNB Investment Services limited are the Book Running lead Managers (“BRlMs”) to the Issue. The Registrar to the Issue is link Intime India Private limited.
The Equity Shares of Dilip Buildcon limited are proposed to be listed on the NSE and BSE.