Infrastructure developer Ashoka Buildcon will hit the capital markets with its Rs 225 crore initial public offer on September 24.
"The issue will be open between September 24 to September 28," a merchant banking source told PTI today.
Anchor investors, if any, are required to submit their bids one day prior to the IPO opening date, he added.
The company is engaged in the building and operation of roads and bridges on a build, operate and transfer (BOT) basis.
Ratings agency Crisil Equities has assigned a grade of 4/5 to the proposed IPO, indicating that the fundamentals of the issue are above average.
In fiscal 2009 and fiscal 2010, Ashoka Buildcon had registered a consolidated total income of Rs 533 crore and Rs 814 crore (up 53 per cent), respectively. It had posted a consolidated net profit of Rs 34 crore and Rs 80 crore (up 135 per cent) for each respective financial year.
Equity shares of the company are proposed to be listed on the National Stock Exchange and the Bombay Stock Exchange.
Enam Securities and IDFC Capital are the book running lead managers to the issue. Motilal Oswal Investment Advisors is the co-book running lead manager to the issue.
