Ashoka Buildcon IPO
Ashoka Buildcon IPO — date, price band, lot size & details 2010
Ashoka Buildcon listed on 14 Oct 2010 at ₹342, 5.6% above the ₹324 issue price.
Ashoka Buildcon is a Nashik based company that builds and operates roads and bridges and was the operator of the highest number of toll based BOT projects in India. Its total income was Rs 1,136.49 crore in FY2010.
Stock price
Ashoka Buildcon is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 15 November.
- Open 24 Sep 2010
- Close 28 Sep 2010
- Allotment 12 Oct 2010
- Refund/credit TBA
- Listing 14 Oct 2010
Issue summary
The terms of the offer, as filed.
| IPO Dates | 24 to 28 Sep, 2010 |
|---|---|
| Price Band | ₹297 – ₹324 |
| Face Value | ₹10 |
| Lot Size | 21 Shares |
| Issue Size | ₹225 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 6,804 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 21 shares at the ₹324 cut-off. Drag to size your application.
| 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 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 341.96 crore in FY2008 to Rs 1,136.49 crore in FY2010.
- 02Profit after tax rose from Rs 22.05 crore in FY2008 to Rs 75.69 crore in FY2010.
- 03EBITDA rose from Rs 132.50 crore in FY2008 to Rs 223.30 crore in FY2010.
- 04It ran the highest number of toll based BOT projects in India, and borrowing stayed near Rs 326.86 crore while income grew.
- 05Net worth rose from Rs 286.64 crore in FY2008 to Rs 404.93 crore in FY2010.
Risks · 5
- 01Toll income depends on traffic, which can fall short of plans; Rs 60.00 crore of the issue went to subsidiaries' loans.
- 02Total borrowing was Rs 326.86 crore in FY2010.
- 03BOT projects lock in capital for many years before returns; total assets were Rs 1,164.29 crore.
- 04Road contracts come largely from government agencies, whose payments and policies can change; Rs 45.00 crore was needed for working capital.
- 05Promoter holding fell from 84.38% before the issue to 73.25% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Ashoka Buildcon offer document.
| Metric | 31 Mar 2010 | 31 Mar 2009 | 31 Mar 2008 |
|---|---|---|---|
| Assets | 1,164.29 | 859.92 | 682.52 |
| Total Income | 1,136.49 | 756.00 | 341.96 |
| Profit After Tax | 75.69 | 47.80 | 22.05 |
| EBITDA | 223.30 | 171.50 | 132.50 |
| NET Worth | 404.93 | 330.88 | 286.64 |
| Total Borrowing | 326.86 | 325.49 | 309.16 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Ashoka Buildcon RHP.
Where the money goes
₹214.00 Cr of the issue is earmarked to named objects.
Ashoka Buildcon IPO Anchor Investors
15 anchor investors across 6 fund houses committed ₹40.26 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
It builds and operates roads and bridges and was the operator of the highest number of toll based BOT projects in India.
It also does engineering, design and maintenance of roads, bridges, electricity substations and buildings for third parties, makes ready mix concrete and bitumen, and collects tolls on roads built by others.
The IPO was Rs 225 crore and was entirely fresh issue at Rs 324, the top of the Rs 297 to Rs 324 band. The money was for repaying project loans of the company and its subsidiaries, working capital and equipment.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Ashoka Buildcon IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Axis Capital
256 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Motilal Oswal Investment Advisors
79 issues handledBest listing: G R Infraprojects (+105.0%). Weakest: R K Swamy (-13.2%).
Dam Capital Advisors Ltd
70 issues handledBest listing: Go Colors (+89.9%). Weakest: Metro Brands (-12.6%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Ashoka Buildcon?
The current Grey Market Premium is ₹0.
What is the Ashoka Buildcon IPO price band?
₹297 to ₹324, on a face value of ₹10.
When is the allotment?
The basis of allotment is 12 October 2010, with listing on 14 October 2010.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
