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IPO of Dilip Buildcon subscribed 20 times

The Rs 650-crore initial public offering (IPO) of infrastructure firm Dilip Buildcon saw 20 times more demand than shares on offer. The offering closed on Wednesday. The 21.4-million share offering saw 444 million bids, data provided by stock exchanges showed. The high net worth (rich) investor portion of the IPO was subscribed around 80 times, while the institutional (big money) investor portion saw nearly 10 times more demand than shares on offer. Demand was lukewarm in the retail (small) investor segment, with the category seeing only two times subscription. Around 50 per cent of the ...