Dilip Buildcon IPO gets nearly 9 lakh bids so far

Dilip Buildcon came up with an initial public offering (IPO) to sell around 1.02 crore shares to raise Rs 430 crore. 

First day of the IPO has finished and as per the data released on NSE, the company has received bids for 8,99,470 shares till 10 am onTuesday August 2, 2016. 

Interestingly, zero response from qualified institutional buyers as well as non-institutional buyers is seen so far. 

Just 7,800 shares bid were received in non-institutional investors from the 45,48,110 shares offered.  

However, Retail individual investors (RII) responded by bidding around 8, 91,670 shares, out of 1,06,12,256 shares reserved for it. 

The price band for the IPO is fixed at lower band of Rs 214 and upper band at Rs 219.