Ashoka Buildcon shines as its arm receives first tranche of PE investment worth $150 mn

08 Jan 2013

Ashoka Buildcon is currently trading at Rs. 218.70, up by 1.50 points or 0.69% from its previous closing of Rs. 217.20 on the BSE.

The scrip opened at Rs. 216.00 and has touched a high and low of Rs. 220.00 and Rs. 216.00 respectively.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 279.40 on 13-Aug-2012 and a 52 week low of Rs. 180.00 on 10-Jan-2012.

Last one week high and low of the scrip stood at Rs. 219.65 and Rs. 202.20 respectively. The current market cap of the company is Rs. 1,151 crore.

The promoters holding in the company stood at 67.39% while Institutions and Non-Institutions held 18.32% and 14.29% respectively.

Ashoka Buildcon’s subsidiary - Ashoka Concessions has achieved transaction closure. The first tranche of investment worth $150 million from Macquarie SBI Investment Fund and SBI Macquarie Investment Trusts has been disbursed which will be utilized as equity in its various projects under construction. Both are the private equity funds managed by SBI and Macquarie.

At present, Ashoka Concession domicile a portfolio of 7 large sized projects amounting to a project cost of $1.6 billion.

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.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323