Ashoka Buildcon Ltd issues Non-Convertible Debentures worth Rs. 150 crores

The Committee of Board of Directors of Ashoka Buildcon Ltd approved the allotment of 1,500 (One Thousand Five Hundred) Rated, Redeemable, Non-Convertible Debentures (the "Debentures") of the face value of Rs. 10,00,000/- (Rupees Ten Lacs only) aggregating Rs. 150,00,00,000/- (Rupees One Hundred and Fifty Crore only) on a private placement basis on October 31, 2014. The Coupon Rate is 10.31% p.a. Company will utilise the proceeds for refinancing of existing debt and general corporate purposes.

The Company proposes to get the Debentures listed on WDM Segment of BSE Limited in the prescribed time.

Shares of ASHOKA BUILDCON LTD. was last trading in BSE at Rs.135 as compared to the previous close of Rs. 136.5. The total number of shares traded during the day was 7360 in over 385 trades.

The stock hit an intraday high of Rs. 140.35 and intraday low of 135. The net turnover during the day was Rs. 1015216.

Source : Equity Bulls

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