Thursday , 30 March 2023
Breaking News

Dilip Buildcon surges on transferring 51% stake of subsidiary to Cube Highways

Dilip Buildcon is currently trading at Rs. 235.85, up by 3.10 points or 1.33% from its previous closing of Rs. 232.75 on the BSE.

The scrip opened at Rs. 232.75 and has touched a high and low of Rs. 242.55 and Rs. 231.50 respectively. So far 79044 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 749.30 on 13-Oct-2021 and a 52 week low of Rs. 187.40 on 01-Jul-2022.

dilip buildcon gains on executing epc agreement for karnataka project
dilip buildcon gains on executing epc agreement for karnataka project

Last one week high and low of the scrip stood at Rs. 242.55 and Rs. 214.25 respectively. The current market cap of the company is Rs. 3427.28 crore.

The promoters holding in the company stood at 70.15%, while Institutions and Non-Institutions held 15.47% and 14.38% respectively.

Dilip Buildcon has transferred its remaining 51% equity stake in its subsidiary company viz. DBL Mangalwedha Solapur Highways (SPV) to Cube Highways and Infrastructure III (Purchaser).

As per the transaction structure, the 100% stake transfer of the Company in aforesaid SPV was to be consummated in two stages, of which the first stage of transfer of 49% equity stake was completed on December 31, 2021 and now the second stage of transfer for remaining 51% Equity shares has been completed on July 28, 2022.

Dilip Buildcon’s core business is undertaking construction projects across India in the roads and irrigation sectors. They specialize in constructing state and national highways, city roads, culverts and bridges.