By 5:30pm, the IPO had received applications for 14.85 million shares, led by high net-worth individuals (HNIs) and retail investors. Anchor book subscription opens a day before the IPO launch and is an indicator of institutional investor interest. The anchor book is that portion of an IPO which bankers allot to institutional investors on a discretionary basis. On Friday, Dilip Buildcon raised Rs.196.19 crore by allotting shares to anchor investors. Retail investors, whose investments cannot cross Rs.2 lakh in an IPO, submitted bids for 67.40 million shares for the 10.61 million shares on offer, stock exchange data showed.

Source: Mint August 02, 2016 12:38 UTC