Ashoka Buildcon to raise funds through private placement
Ashoka Buildcon, an Indian infrastructure development company, is planning to raise nearly Rs5 billion (US$80 million) trough a qualified institutional placement (QIP).
According to sources, the company is planning a large scale expansion drive. These plans involves the acquisition of a controlling stake in Jaora Nayagaon toll project in Madhya Pradesh, in which the company already owns a 37.7% stake. The other shareholders are Srei Infra, PNC Infra, SPML and SBI Macquarie Infra.
The company could also use this QIP process to fund new and under development projects. The firm, which had a total revenue of Rs17.9 billion (US$286 million) in 2014, is currently carrying out road projects in the Indian states Madhya Pradesh, Karnataka, Tamil Nadu, Andhra Pradesh, Rajasthan, and Telangana.
Ashoka Buildcon is engaged in developing and building infrastructure facilities on design, build, finance, operate, and transfer basis in highways; and engineering, procurement, and construction (EPC) basis in highways and the power sector. The company operates in three segments: Construction & Contract Related Activities, BOT Projects, and Sale of Goods. The firm also collects tolls on roads and bridges owned and constructed by third parties.
Country news
-
-
April 09, 2015
India Infrastructure Fund II to acquire 23.5% stake in Palatana power project
The second infrastructure fund of India's IDFC Alternatives, the private equity arm of IDFC Ltd., is to acquire a 23.5% stake in Palatana power project in Tripura, a state in Northeast India, for the equivalent to US$68.2 million. Read more -
April 09, 2015
India to set up silos with PPP
Food Corporation of India (FCI) has announced plans to set up silos with about two million tonne capacity through a public private partnership (PPP) project, in the next two years. Read more -
April 16, 2015
JLL India launches infrastructure services business
Jones Lang LaSalle (JLL) India has launched its dedicated Infrastructure Services vertical, which will specifically address the requirements and opportunities that the infrastructure sector will represent till 2020. Read more -
April 21, 2015
HCC Concessions sells stake in Dhule Palesner Tollway
HCC Concessions Ltd, the infrastructure development arm of HCC Infrastructure, is selling its stake in Dhule Palesner Tollway to its joint venture partner Sadbhav Group for Rs2.04 billion (US$32.5 million). Read more -
April 21, 2015
Kerala launches RFQ for seven urban PPP projects
The Local Government of Kerala (India), though the Partner Kerala Mission (PKM), has launched requests for qualification (RFQs) to develop seven urban PPP projects. Read more
