Ashoka Buildcon has received approval to issue non-cumulative, redeemable, taxable, listed, rated securities in the form of non-convertible debentures (NCDs) up to an aggregate amount not exceeding 150 crore on private placement basis. The tenure of the instrument is 2 year and 4 month. The Board of Directors of the company at their meeting held on December 17, 2018, approved the same.
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.