Dilip Buildcon’s board of directors has approved the issue and allotment of 94.45 lakh equity shares at issue price of Rs 540 per unit including a premium of Rs 530 against the floor price of Rs 568.41 share aggregating to more than Rs 510 crore. The qualified institutions placement (QIP) opened on April 20 and closed on April 26. After the allotment of equity shares in QIP, the paid-up equity share capital of the company stands increased from Rs 13,676 crore to Rs 14,621 crore.
Dilip Buildcon’s core business 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.
