J. Sagar Associates (JSA) advised Axis Capital Limited and IIFL Securities Limited (collectively, the BRLMs) in relation to the qualified institutions placement (QIP) of Dilip Buildcon Limited (Dilip Buildcon).
Dilip Buildcon had filed a placement document on April 26, 2021, for issue of 9,445,203 equity shares to qualified institutional buyers aggregating to ₹ 5,100.41 million.
This QIP was a transaction amidst, the rapidly increasing COVID-19 cases in India and the volatile stock market.
Dilip Buildcon is a large infrastructure development company with capabilities in roads, special bridges, tunnels, mining excavation, mining development and operations, dams, canals, metro rail viaduct, airports, railways and industrial, commercial and residential buildings, with a presence in 19 states in India. As of December 31, 2020, Dilip Buildcon had completed the construction of 130 projects across 15 states in India, out of which 122 were road projects with an aggregate length of approximately 16,895.71 Lane kms.
JSA team comprised Lead Partner – Arka Mookerjee, Partners – Siddhartha Desai and Pracheta Bhattacharya, Senior Associate – Krupa Brahmbhatt and Associate – Aniran Ghoshal.
Arka Mookerjee is a Partner and Co-Head of the Equity Capital Markets practice, with over 21 years of experience advising on India’s most complex and high-value transactions. Widely recognised for pioneering mandates—including India’s first QIP and InvIT IPO—he represents issuers, underwriters and investors across capital markets and investment structures. Arka actively engages with regulators and industry bodies, playing a key role in shaping India’s evolving capital markets framework.