Mumbai, Ashoka Buildcon Limited, an infrastructure company that successfully completed Maharashtras first BOT (Build Operate and Transfer) road project and currently operates one of the highest numbers of toll-based BOT projects in India, has bagged two different orders from National Highways Authority of India (NHAI), collectively worth Rs. 1389 crores for construction of roads on Design, Build, Finance, Operate and Transfer (DBOFT) in the state of Karnataka and on Orissa-Chhattisgarh border respectively.

The company has bagged an order worth Rs. 909 crores for the construction of four lane road from 0.00 kms to 88.00 kms on NH 6 between Sambalpur-Baragarh on the Orissa-Chattisgarh border in the state of Orissa to be executed as BOT (Toll) project on DBFO pattern under NHDP Phase III project.

The other contract comprise an order worth Rs. 480 crores for a stretch of 79.36 kilometers for six lane road on Belgaum-Dharwad section of NH-4 from 433.000 kms to 515.000 kms on DBFOT basis.

Forthcoming Public Issue

The Company has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO) of equity shares of Rs 10 each (Equity Shares) for cash at a price to be decided through a 100% Book-Building Process (the Issue). The Issue comprises a Net Issue of Rs. 225 Crores to the Public and a reservation of Rs. 4.50 Cr. Equity Shares for Eligible Employees. The Equity Shares are proposed to be listed on the National Stock Exchange of India Limited (NSE) and the Bombay Stock Exchange Limited (BSE).

Notes to Editor

About Ashoka Buildcon Ltd.

Headquartered in Nashik, Ashoka Buildcon Ltd. has operations reach across the states of Maharashtra, Madhya Pradesh, Chhattisgarh, Rajasthan, Gujarat, Goa and Tamil Nadu, the National Capital Territory of Delhi and the union territories of Dadra and Nagar Haveli and Daman and Diu. In addition to Road and Bridges BOT projects, it also engineers and designs; procures the raw materials and equipment for; and constructs roads, bridges, commercial buildings, industrial buildings and institutional buildings for third parties. The company has also forayed in the power transmission and distribution sector with an entry level order of more than Rs. 1000 Cr. It also manufactures and sells ready-mix concrete (RMC) and bitumen; and collects tolls on roads and bridges owned and constructed by third parties. The business is organised into four divisions: the BOT division; the engineering, procurement and construction (EPC) division; the RMC and bitumen division; and the toll collection contract division. According to ISC, the Company is the first Indian infrastructure construction company to receive the ISC certification for Quality (ISO 9001:2000), Environment (ISO 14001:2004) and Occupational Health and Safety Management System (OHSAS 18001:1999) for Integrated System Management in relation to the design, development, construction of roads, bridges, industrial buildings, residential and commercial complexes, production and sale of ready-mix concrete and operation and maintenance of road infrastructure projects. It is the first company to build an international quality model road in India --- the East Coast Road from Chennai to Pondicherry.

Disclaimer

Ashoka Buildcon Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, a public issue of its equity shares and has filed a Draft Red Herring Prospectus with the Securities and Exchange Board of India (SEBI). The Draft Red Herring Prospectus is available on the website of SEBI at www.sebi.gov.in.

Any potential investor should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the Draft Red Herring Prospectus and the risk factors including the sections titled Risk Factors