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Dilip Buildcon’s IPO to open on August 1, 2016 with Price Band of Rs. 214 – Rs. 219 per Equity Share each of Face Value of Rs. 10 each

Bhopal-based Dilip Buildcon Limited, a private sector road-focused EPC contractor in India will be launching its initial public offering, 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 Anchor Investor Bid/Issue Period shall be July 29, 2016, being one working day prior to the Issue opening date.

The IPO comprises 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 utilise the net proceeds of the fresh issue for 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 is being made through the Book Building Process in accordance with Regulation 26(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 (“SEBI Regulations”) wherein not more than 50% of the Issue shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (the “QIB Portion”), provided that our Company and the Selling Shareholders, in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis. One-third of the Anchor Investor Portion shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Issue Price.

Further, not less than 15% of the Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Issue shall be available for allocation to Retail Individual Bidders in accordance with the SEBI Regulations, subject to valid Bids being received at or above the Issue Price. All potential Bidders, other than Anchor Investors, are required mandatorily to utilise the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective bank accounts which will be blocked by the Self Certified Syndicate Banks (“SCSBs”) to participate in the Issue.

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.

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