Dilip Buildcon brings in Rs 100 crore via NCDs

Construction engineering company, Dilip Buildcon declared today that it has raised Rs 100 crore by the issue of rated, listed, redeemable, senior, secured non-convertible debentures (NCDs). It has made the allotment of 1,000 NCDs in dematerialized form, each having a face value of Rs 10 lakh and bearing a coupon rate of 8.75 per cent p.a., annualized to identify investors on private placement basis.

On May 29, 2020, the Debenture Committee of the Board of Directors held a meeting, approving and allotting such debentures.

The company holds an order book of Rs 21,205.3, translating into book-to-bill of 2.21x, as of Q3FY20. Its net debt is reflected at Rs 3,048.1 crore.

Dilip Buildcon concentrates on constructing state and national highways, culverts, bridges and city roads, and its core business is undertaking construction projects across India in the roads and irrigation sectors.

Dilip Buildcon's stock was trading in positive terrain in today's trading session. The stock opened at Rs 258 apiece, and then surged nearly 6 per cent to touch an intraday of Rs 273 on BSE.