Dilip Buildcon made a strong debut on the bourses on Thursday with the stock listing at R240, a 10% premium to the issue price of R219 per share. The stock went up by 11% to close at R251 and commands a market capitalisation of R3,445.91 crore. The company raised R654 crore.
With Dilip Buildcon having listed, 15 companies have now together raised nearly R10,500 crore between January and now through initial public offerings (IPO). In 2015 the amount raised by companies through IPOs was R13,614 crore. The infrastructure firm’s IPO was over subscribed by 20.8 times. Investors bid for 44.45 crore shares of the total 2.13 crore shares on offer.
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