Ashoka Buildcon is all set to raise Rs 500 crore via qualified institutional placement (QIP), as it gears up for aggressive expansion. The company will use the raised fund for bidding new projects and developing few existing projects. This will help the company to reduce risk premium.
With total revenue of Rs 1,795 crore for FY14, Ashoka Buildcon is one of the largest players in highway development in India with 28 PPP projects.
Ashoka Buildcon builds and operates roads and bridges in India on a build, operate and transfer (BOT) basis. It currently operates one of the highest numbers of toll-based BOT projects in India.
