Ashoka Buildcon IPO : Finally subscribed 15.94 times

by khalid on 03/10/2010 · 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. The IPO of Ashoka Buildcon Limited has received a good response from the investors with the final over-subscription figure reached to 15.94 times on an overall basis. Ashoka Buildcon IPO was open on 24th Sep 2010 and get closed on 28th Sep 2010 for subscription.The IPO has managed to garner a good response from Qualified Institutional Buyers Category where it overbid by 25.52 times on the final day of subscription.

The category-wise subscription status of IPO on closing day is given below:-

Qualified Institutional Buyers (QIBs) : 25.52 times
Non Institutional Investors : 13.910 times
Retail Individual Investors : 3.46 times
Overall : 15.94 times

The IPO proceeds would be used for investment in capital equipment, meet working capital requirements. prepayment/ repayment of project loans of the Company, funding certain Subsidiaries for prepayment/ repayment of their loans, general corporate purposes and to achieve the benefits of listing in stock market.

The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (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 : Link Intime India Private Ltd, Mumbai.

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