Ashoka Buildcon lists at Rs 342 Vs IPO price of Rs 324/sh

Shares of Ashoka Buildcon, a company engaged in building and operating roads and bridges on a BOT basis, have listed at Rs 342 a share on NSE as against issue price of Rs 324.

At 9:17 hours IST, a share was trading at Rs 327, with volume of 24 lakh shares, after hitting a high of Rs 344.95 and low of Rs 313.10 in early trade.
Ashoka raised Rs 225 crore through IPO, which was opened during September 24-28 and was subscribed 15.53 times. A price band was at Rs 297-324 a share.
Issue proceeds will be used 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.