Ashoka Buildcon files DRHP with Sebi

Plans to raise Rs 225 crore via IPO

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

Price of the issue will be determined through 100% book-building process. The equity shares offered through this IPO, are proposed to be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).

Ashoka Buildcon is engaged in the business of building and operating roads and bridges.

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.