Ashoka Buildcon files DRHP for its proposed Rs 225 crore IPO

Submitted by Anuj Gupta on Thu, 10/15/2009 - 11:34

Ashoka Buildcon, engaged in construction business of roads and bridges, has filed the draft red herring prospectus (DRHP) with market regulator SEBI for its proposed Rs 225 crore initial public offer (IPO).

The company will utilize the issue proceeds 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.

Nashik-based Ashoka Buildcon has reported total income of Rs 756 crore and net profit of Rs 47.8 crore for the year ended March 31, 2009. The company has debt of Rs 722.6 crore.

The equity shares offered through this IPO, are proposed to be listed on the NSE and BSE.

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


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