Ashoka Buildcon

Ashoka Buildcon files DRHP for its proposed Rs 225 crore IPO

Ashoka Buildcon, engaged in construction business of roads and bridges, has filed the draft red herring prospectus (DRHP) with market regulator SEBI for its proposed Rs 225 crore initial public offer (IPO).

The company will utilize the issue proceeds for investment in capital equipment; working capital requirements; prepayment/ repayment of project loans of the company and funding certain subsidiaries for prepayment/ repayment of their loans.