Rs 23,988.6 crore order book: Small-cap civil construction stock in green after the company allots 162,29,862 shares to private placement via preferential issue!
The stock has given 85.66 per cent returns in last one year where company has been maintaining a healthy dividend payout of 53.5 per cent.
On Friday, Dilip Buildcon’s shares, traded at an intraday high of Rs 393.55, jumping 2.23 per cent in a day due to the following developments.
Dilip Buildcon Limited allotted 162,29,862 shares to private placement via preferential issue. Following previous announcements on November 7, 2023, and November 30, 2023, Dilip Buildcon Limited reports that its Warrants Committee, in a meeting today, has approved the preferential allotment of warrants through a private placement. This development is in line with the company's strategic initiatives, and further details of the allotment are outlined in the regulatory framework.
Following are the allottees of the preferential issue:
|
Name of Allottee
|
Number of Warrants Allotted
|
Price at which the Warrants are Issued (in Rs per warrant)
|
Paid-up value per warrant (in Rs)
|
Consideration received as on the date of allotment (in Rs) (at least 25 per cent of the price at which the warrants are issued)
|
|
Alpha Alternatives Financial Services Private Limited (formerly known as Provincial Finance and Leasing Co Private Limited)
|
16,24,611
|
328.05
|
82.02
|
13,32,50,594.22
|
|
Helium Services LLP
|
113,56,030
|
93,14,21,580.60
|
|
Quanterra Stratergies LLP
|
25,99,377
|
21,32,00,901.54
|
|
Spectrum Edge LLP
|
6,49,844
|
5,33,00,204.88
|
|
Total
|
162,29,862
|
133,11,73,281.24
|
Upon conversion and exercise of warrants into equity shares of the Company (which shall rank pari passu to the existing fully paid-up equity shares), the Allotees will collectively hold 9.99 per cent. equity stake in the Company, on a fully diluted basis.
Earlier Dilip Buildcon Limited has secured approval for a significant project to construct observatory towers and viewing galleries on December 14, 2023. Valued at Rs 270.07 crore, the project, awarded by the Public Works Department, with a 60-month concession period and a subsequent 50-year commitment to operation and maintenance.
Current order book as on September 30th, 2023 – Rs 23,988.6 crore
The Quarterly Results for the period ending September 2023 show a mixed bag of results. Sales fell 2.47 per cent quarter over quarter (QoQ), but increased 9.74 per cent year over year (YoY), hitting Rs 2848.67 crore. Net profit increased by 303.47 per cent year on year and 441.25 per cent quarter on quarter, resulting in a large value of Rs 68.63 crore. However, operational profit suffered difficulties, falling 3.22 per cent year on year and 13.48 per cent quarter on quarter, to Rs 340.57 crore.
This is a Small-Cap civil construction stock with market capitalization of Rs 5,651 crore, currently trading at Rs 386. The stock has given 85.66 per cent returns in last one year where company has been maintaining a healthy dividend payout of 53.5 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.
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