India: Dilip Buildcon IPO gets subscribed 9% on Day 1

The initial public offering (IPO) of construction and road developing company Dilip Buildcon Ltd (DBL), excluding the anchor allotment, was subscribed 8.8% on Monday, the first of the three-day offering. The issue will close on Wednesday.

As of 6pm, the IPO received applications for 1.9 million shares, led by retail individual investors. The company and existing shareholders are selling 21.36 million shares as part of the three-day public offering, according to information made available on stock exchanges.

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