Bookbuilding IPO | ₹225 Cr | Listed at BSE, NSE | Fri, Sep 24, 2010 - Tue, Sep 28, 2010
Ashoka Buildcon IPO is a book build issue of ₹225.00 crores. The issue is entirely a fresh issue of 0.69 crore shares of ₹225.00 crore.
Ashoka Buildcon IPO bidding started from Sep 24, 2010 and ended on Sep 28, 2010. The shares got listed on BSE, NSE on Oct 14, 2010.
Ashoka Buildcon IPO price band is set at ₹324 per share. The lot size for an application is 21. The minimum amount of investment required by an retail is ₹6,804 (21 shares) (based on upper price). The lot size investment for sNII is 30 lots (630 shares), amounting to ₹2,04,120, and for bNII, it is 147 lots (3,087 shares), amounting to ₹10,00,188.
The issue includes a reservation of up to 34,722 shares for employees offered at a discount of ₹0.00 to the issue price.
Axis Capital Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Ashoka Buildcon IPO RHP for detailed Information.
IPO Open
Fri, Sep 24, 2010
IPO Close
Tue, Sep 28, 2010
Issue Price
₹324 per share
Market Cap (Pre-IPO)
₹1,705.41 Cr
| IPO Date | 24 to 28 Sep, 2010 |
| Listed on | Thu, Oct 14, 2010 |
| Face Value | ₹10 per share |
| Price Band | ₹297 to ₹324 |
| Issue Price | ₹324 per share |
| Lot Size | 21 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 69,44,444 shares (agg. up to ₹225 Cr) |
| Fresh Issue | 69,44,444 shares (agg. up to ₹225 Cr) |
| Share Holding Pre Issue | 4,56,91,702 shares |
| Share Holding Post Issue | 5,26,36,146 shares |
| BSE Script Code / NSE Symbol | 533271 / ASHOKA |
| ISIN | INE442H01029 |
Ashoka Buildcon IPO comprises a total issue size of 69,44,444 shares. The net offer to the public is 69,09,722 shares, after excluding 34,722 shares under a preferential allotment. Of the Net offer 41,45,833 (60.00%) are allocated to QIB, 6,90,972 (10.00%) allocated to NII 20,72,917 (30.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 41,45,833 | 60.00% | 59.70% | NA |
| − Anchor Investor Shares Offered | 12,43,750 | 17.91% | NA | |
| − QIB (Ex. Anchor) Shares Offered | 29,02,083 | 41.79% | NA | |
| NII (HNI) Shares Offered | 6,90,972 | 10.00% | 9.95% | NA |
| Retail Shares Offered | 20,72,917 | 30.00% | 29.85% | 98,710 |
| Preferential Reservations | ||||
| Employee Shares Offered | 34,722 | 0.50% | NA | |
| Total Shares Offered | 69,44,444 | 100.00% | 100.00% | |
Investors can bid for a minimum of 21 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 21 | ₹6,804 |
| Retail (Max) | 29 | 609 | ₹1,97,316 |
| S-HNI (Min) | 30 | 630 | ₹2,04,120 |
| S-HNI (Max) | 146 | 3,066 | ₹9,93,384 |
| B-HNI (Min) | 147 | 3,087 | ₹10,00,188 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Incorporated in 1993, Ashoka Buildcon Limited is a Nashik, Maharashtra based construction company involve in the business of building and operating roads and bridges in India. Ashoka Buildcon is the operator of highest number of toll-based BOT (build, operate and transfer) projects in India.
Company is also involve in engineering, designing and maintenance of roads, bridges, electricity substations, commercial buildings and industrial buildings for third parties. Other businesses of the company includes manufacture and sell ready-mix concrete and bitumen and collect tolls on roads and bridges owned and constructed by third parties.
Ashoka Buildcon has 4 business divisions:
1. BOT Division, which operates or have an interest in 21 BOT road projects across India.
2. EPC Division, which is involve in activities like engineering, design, maintenance and repair of infrastructure projects for third parties.
3. RMC and Bitumen Division, which sells ready-mix concrete and bitumen.
4. Toll Collection Contract Division, which collects toll on roads/bridges owned and constructed by third parties.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Investment in capital equipment | 14.00 |
| 2 | To meet working capital requirements. | 45.00 |
| 3 | Prepayment/ repayment of project loans of the Company | 55.00 |
| 4 | General corporate purposes. | 19.40 |
| 5 | Funding certain Subsidiaries for prepayment/ repayment of their loans | 60.00 |
| 6 | Issue Expenses | 20.60 |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 100% | 100% |
| Market Cap | ₹1,705.41 Cr. |
The Ashoka IPO is subscribed 15.94 times on September 28, 2010 7:30:00 PM (Day 3). The public issue subscribed 3.46 times in the retail category, 25.52 times in the QIB category, and 13.91 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 25.52 | 31,65,909 | |
| NII | 13.91 | 7,53,788 | |
| Retail | 3.46 | 22,61,364 | |
| Employee | 1.21 | 37,879 | |
| Total | 15.94 | 62,18,940 |
CRISIL has assigned an IPO Grade 4 to Ashoka Buildcon Limited IPO. This grade indicates that the fundamentals of the IPO are 'Above Average' relative to other listed equity securities in India. CRISIL assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals.
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| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Management, Underwriting and Selling Commission | 8.90 |
| 2 | Advertising and marketing expenses | 4.90 |
| 3 | Printing and stationery (including courier, transportation charges) | 1.90 |
| 4 | Others (Registrar fees, legal fees, listing costs etc) | 4.70 |
| 5 | Fees paid to rating agency | 0.20 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹324.00 | ₹324.00 |
| Open | ₹333.55 | ₹342.00 |
| Low | ₹312.65 | ₹308.10 |
| High | ₹362.30 | ₹362.70 |
| Last Trade | ₹333.35 | ₹330.75 |
Ashoka Buildcon IPO is a main-board IPO of 69,44,444 equity shares of the face value of ₹10 aggregating up to ₹225 Crores. The issue is priced at ₹324 per share. The minimum order quantity is 21.
The IPO opens on Fri, Sep 24, 2010, and closes on Tue, Sep 28, 2010.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Ashoka Buildcon IPO using UPI as a payment gateway. Zerodha customers can apply in Ashoka Buildcon IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Ashoka Buildcon IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Ashoka Buildcon IPO opens on Fri, Sep 24, 2010 and closes on Tue, Sep 28, 2010.
Ashoka Buildcon IPO lot size is 21, and the minimum amount required for application is ₹6,804.
You can apply in Ashoka Buildcon IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Ashoka Buildcon IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Ashoka Buildcon IPO allotment status.
The Ashoka Buildcon IPO listing date is on Thu, Oct 14, 2010.
