Ashoka Buildcon Ltd has filed a Draft Red Herring Prospectus for an Initial Public Offering of equity shares of Rs 10 each for cash at a price to be decided through a 100% Book-Building Process. The issue comprises a net issue of Rs. 225 crores to the public and a reservation of Rs. 4.50 crore for employees. The shares will be listed on the National Stock Exchange and Bombay Stock Exchange. The infrastructure company operates one of the highest numbers of toll-based BOT projects in India. It has bagged two orders from National Highways Authority of India (NHAI), collectively worth Rs. 1389 crores for construction of roads on Design, Build, Finance, Operate and Transfer in Karnataka and on Orissa-Chhattisgarh border.
The company has bagged an order worth Rs. 909 crores for the construction of four lane road from 0.00 kms to 88.00 kms on NH 6 between Sambalpur-Baragarh on the Orissa-Chattisgarh border in Orissa to be executed as BOT (Toll) project on DBFO pattern under NHDP Phase III project.
The other contract, worth Rs. 480 crores, is for a stretch of 79.36 kms for six lane road on Belgaum-Dharwad section of NH-4 from 433.000 kms to 515.000 kms on DBFOT basis.
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