Ashoka Buildcon Limited which had tapped the capital markets to raise Rs 225 crs in a price band of Rs 297 to Rs 324 was oversubscribed. The issue had opened on Friday the 24th of September and closed on Tuesday the 28th of September. The company had allotted 12,43,750 shares at the top end of the price band of Rs 324 to anchor investors. The company received excellent response in the QIB category and decent support from the HNI’s. It appears that the retail category has not quite understood the business model or that the bunching of issues has brought about liquidity concerns. The company is in the business of executing BOT projects and currently has an interest or owns 23 road projects.

Details of the subscription by various categories of investors are as follows: –