Ashoka Buildcon has reportedly raised Rs 500 crore from a share sale to institutional investors. The share sale was launched at an indicative price of Rs 175.80 per share, a discount of about 9 per cent to Monday’s closing price of Rs 193.15 a share on the National Stock Exchange of India. Axis Bank, ICICI Securities, IDFC Securities and Macquarie Capital were the managers of the issue.
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.
