Ashoka Buildcon IPO

Abstract:
Ashoka Buildcon IPO was filed with Securities and Exchange Board of India in January,2008. The company decided to offer its 8,100,000 equity shares through this IPO.Ashoka Buildcon Limited IPO refers to the Initial Public Offering that the infrastructure development company Ashoka Buildcon Limited filed with Securities and Exchange Board of India(SEBI) in January, 2008.
The company, Ashoka Buildcon Limited generally develops and executes toll based BOT Projects. This means the company carries out different infrastructure projects that they Build, Operate and Transfer. For the Initial Public Offering, this Ashoka Buildcon Limited filed its’ Draft Red Herring Prospectus or DRHP with SEBI.

It was proposed that shares of the company would be listed on Bombay Stock Exchange and National Stock Exchange of India. The company decided to sell its’ 8,100,000 equity shares through this IPO. Each of these Rupees ten shares were decided to be sold at a price determined through the book building process.

The leading firms that would manage this book building process are Kotak Mahindra Capital Company, IDFC-SSKI and Enam Securities. The company made it clear that, out of these 8,100,000 equity shares, 7,938,000 shares would be used for Net Public Issue and 162,000 shares would be reserved for the employees of Ashoka Buildcon Limited.
These planning reflected that, in this initial public offering of Ashoka Buildcon Limited, 14.75% of the post issue paid up capital would be constituted by the Net Public Issue of the company.

The company informed that, minimum 60% of the Net Public Issue would be proportionally offered to the qualified institutional buyers and 5% of the shares, to be offered to the qualified institutional buyers, would be reserved by the company for the Mutual Funds. It was declared that, minimum 30% of net public issue would be offered to individual bidders from the Retail sector, whereas minimum 10% of the net public issue would be allocated to non-institutional bidders.

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Last Updated on : 30th July 2013

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