Ashoka Buildcon IPO : files DRHP for Rs 225 cr

by khalid on 27/09/2009 · 0 comments

Ashoka1

Ashoka Buildcon, ( construction of roads and bridges ) has filed a draft red herring prospectus ( DRHP ) with the market regulator Securities & Exchange Board of India ( SEBI ) .

The company is planning to raise around Rs 225 crore through this IPO . The proceeds of this IPO will be used for investment in capital equipment, working capital requirements, prepayment/ repayment of project loans of the company and funding certain subsidiaries for prepayment/ repayment of their loans.

The company is in the business of construction of roads and bridges in India on build, operate and transfer (BOT) basis. Its business is organised into four divisions – BOT division, engineering, procurement and construction division (EPC), RMC and bitumen division and toll collection contract division.

For the year ended March 31, 2009, The company has total income of Rs 756 crore and net profit of Rs 47.8 crore. It has debt of Rs 722.6 crore.

IDFC-SSKI Ltd, Enam Securities Pvt Ltd and Motilal Oswal Investment Advisors Pvt Ltd are the book running lead managers to the issue. Link Intime India Pvt Ltd is the registrar.

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