Ashoka Buildcon IPO : CRISIL gives 4 out of 5

by khalid on 26/09/2010 · 0 comments

Ashoka Buildcon Limited 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. Ashoka Buildcon IPO has got 4 out of 5 by CRISIL (rating agency) and this rating/grading is above average for a construction comapny. The grade 4 indicates that the fundamentals of the IPO are above average compared to the other listed securities in India. The company is entering into primary market with an Initial Public Offer (IPO) of Rs 225 crores. The IPO is opening on 24th Sep 2010 and the shares will be available for subscription up to 28th Sep 2010. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has been fixed at Rs 297 at the lower level and Rs 324 at the upper level.

Issue Detail:-
Issue Open : 24th Sep 2010 – 28th Sep 2010
Issue Type : 100% Book Built Issue IPO
Issue Size : 6,218,940 Equity Shares of Rs 10 each
Issue Size : Rs. 225 Crores
Face Value : Rs 10 Per Equity Share
Issue Price : Rs. 297 – Rs. 324 Per Equity Share
Market Lot : 21 Shares
Minimum Order Quantity : 21 Shares
Listing At : BSE, NSE

Book running lead managers to the issue are Enam Securities Private Limited, IDFC-SSKI Private Limited and Motilal Oswal Investments Advisors Pvt Ltd.

Registrar of the Issue is Link Intime India Private Ltd, Mumbai.

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