India: Dilip Buildcon IPO subscribed 69.5% on Day 2

Photo: Hemant Mishra/Mint

The initial public offering (IPO) of construction and road building company Dilip Buildcon Ltd received bids for 69.52% of the shares on offer at the end of Tuesday, the second day of a three-day offering.

By 5:30pm, the IPO had received applications for 14.85 million shares, led by high net-worth individuals (HNIs) and retail investors. The company and existing shareholders are selling 21.36 million shares in the IPO.

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