Content area
Full Text
The scorching pace of Indian IPOs looks set to continue as Dilip Buildcon prepares to launch a Rp6.53bn ($97.5m) listing next week, with bankers expecting a solid response from investors.
Dilip has set the price range for its float at Rp214-Rp219 apiece, said bankers on the deal. The float comprises primary shares worth Rp4.3bn and an offer for sale of 10.2m secondary shares. Banyan Tree Growth Capital, Devendra Jain and Dilip Suryavanshi are respectively offering to sell 8.0m, 1.1m and 1.1m shares in the IPO.
India's largest road engineering, procurement and construction firm, Dilip is seen benefiting from investors' bullishness around the infrastructure sector. Its pan-India presence also gives it an edge over regional players, a factor that helped it clock revenues of about Rp41bn during its latest fiscal year ending March 2016, the banker said.
Bookbuilding for the IPO runs from August 1-3, with the anchor portion due to be completed on Friday....