|We began our operations as a civil construction firm, Ashoka Constructions in November 5, 1983 as a
partnership between Ashok M. Katariya, Ramanal B. Parakh, Sushil R. Parakh, Narendra R. Shakadwipi
and Vimlabai R. Shakadwipi. We were reorganized as a company called Ashoka Buildcon Private Limited
in 1993 and engaged in the business of civil construction. In fiscal 1997, we entered into the business of
developing toll roads and toll bridges on a BOT basis.We became a public company on April 22, 2002 and
changed the name of the Company from Ashoka Buildcon Private Limited to Ashoka Buildcon Limited
with effect from April 22, 2002 pursuant to a special resolution of the shareholders passed at an EGM on
April 4, 2002. The fresh certificate of incorporation consequent on change of name was granted by the RoC
to the Company on April 22, 2002.
We build and operate roads and bridges in India on a build, operate and transfer ("BOT") basis. We
believe we currently operate one of the highest number of toll-based BOT projects in India. In addition to
BOT projects, we also (i) engineer and design, procure the raw materials and equipment for and construct
roads, bridges, commercial buildings, industrial buildings and institutional buildings for third parties, (ii)
manufacture and sell ready-mix concrete ("RMC") and bitumen and (iii) collect tolls on roads and bridges
owned and constructed by third parties. Our business is organised into four divisions:
- the BOT division;
- the engineering, procurement and construction ("EPC") division;
- the RMC and bitumen division; and
- the toll collection contract division.
Prior to fiscal 1997, we were engaged solely in the engineering and construction of residential, commercial,
industrial and institutional buildings. In fiscal 1997, having acquired EPC skills, we also turned our
attention to bidding for contracts for toll roads and toll bridges on a BOT basis. We were awarded our first
BOT project, the Dhule bypass in Maharashtra, in fiscal 1997 and completed the construction of the road in
the same fiscal year. In fiscal 2000 we began manufacturing RMC solely for use by our EPC division. In
fiscal 2002 we began to manufacture RMC to sell to third parties as well as for use by our EPC division. In
fiscal 2005 we began processing bitumen to a higher grade at our facility in Pune for use in road projects.
Having developed systems and procedures for collecting tolls on our BOT projects, including developing
our own proprietary computerised toll revenue auditing system, we tendered for and were awarded our first
the contract to collect the tolls on a road owned and constructed by a third party.
In August 2006, IDFC PE II acquired 1,019,617 Equity Shares in the Company which made IDFC the
single largest shareholder with 18.18% equity stake in the Company. Currently, IDFC PE II holds
7,137,319 Equity Shares aggregating to 15.62% of our paid-up Equity Shares, which makes it our single
largest shareholder as on the date of this Draft Red Herring Prospectus.
Milestones achieved by the Company since its incorporation are listed below:
1995-96 The Company completes its first major industrial project for Nilkamal Plastics Limited, Sinnar.
1997-98 The Company starts work on the Dhule bypass project, one of the first BOT projects in
The Company completes this project within a period of nine months.
The Company completes the construction of one of the first few flyovers in Pune, the Kothrud
The Company is awarded the ISO 9001:2000 certification for quality management systems.
The Company establishes the Ashoka Training Institute to promote excellence in civil
construction education and research.
The Company is awarded the National Award for ÂMost Outstanding Bridge-Excellent
Aesthetic Matching EnvironmentÂ for Kothrud flyover, Pune and Shivna bridge from Indian
Institute of Bridge Engineers.
2000 The Company was awarded its first project aggregating approximately Rs. 1,000 million on
2001 The Company completes construction of East Coast road between Chennai and Pudducherry
which was declared to be a model road by Government of India.
The Company is awarded the ÂNIMA Excellence AwardÂ by the Nashik Industries and
The Company starts its RMC business.
2003-04 The Company completes construction of the Indore-Edalabad road, which was one of the
longest roads to be constructed on a BOT basis.
2006 The Company entered into a shareholders agreement with IDFC Infrastructure Fund 2 for issue
of 1,019,617 equity shares to IDFC Infrastructure Fund 2 at a price of Rs. 980.76 per equity
2007 The Company received the Certificate of Registration regarding compliance with requirements
of ISO 9001: 2000, ISO 14001:2004 and OHSAS 18001:1999. The said certificate was granted
by International Standards Certifications Pty. Limited.
2008 Ashok M. Katariya received the Life Time Achievement award from the Association of
Consulting Civil Engineers.
2009 The Company received the Certificate of Registration regarding compliance with requirements
of ISO 9001: 2000, ISO 14001:2004 and OHSAS 18001:2007. The said certificate was granted
by International Standards Certifications Pty. Limited.
Key Awards and Recognitions
Year Name of Award
1997 Awarded the ÂCM Shah Concrete Technology AwardÂ by Institution of Engineers, India, Pune
1997 Awarded the National Award for ÂMost Outstanding Bridge-Excellent Aesthetic Matching
Environment for Kothrud flyover, Pune and Shivna bridge from Indian Institute of Bridge
1998 The quality management systems of the Company were ISO 9001:2000 certified by International
Standards Certifications Pty Limited
Awarded the ÂDirectorÂs Work of World Class Quality AwardÂ for the project executed for Proctor
and Gamble in Goa
2001 Awarded the ÂNational Award -Most Outstanding BridgeÂ for construction of Bhor bridge.
Awarded the NIMA Excellence Award by the Nashik Industries and ManufacturerÂs Association.
2007 Awarded a certificate of involvement by the United States Environment Programme to Ashoka
Group for the contribution by Ashoka Group to the 2007 Billion Tree Campaign.
Awarded a certificate of registration ÂEnvironmental Management System 14001:2004; ISO
9001:2004; ISO 18001:2007Â from International Standards Certifications Pty. Ltd. for complying
with requirements of the International Standard
2008 Awarded a certificate of excellence in productivity, quality, innovation and management by the
Institute of Economic Studies, New Delhi
The Company received the Certificate of Registration regarding compliance with requirements of ISO 9001: 2000, ISO 14001:2004 and OHSAS 18001:2007. The said certificate was granted by International Standards Certifications Pty. Limited.
The equity shares of Ashoka Buildcon Ltd (Scrip Code: 533271) are listed and admitted to dealings on the Exchange in the list of 'B' Group Securities
Ashoka Build - Ashoka Buildcon announces construction completion and start of toll Project
Ashoka Build - Successful bidder for Four Laning of Cuttack-Angul Section (112 KMs)
The Company announces the receipt of Letter of Awards for Turnkey Power Distribution EPC Contracts aggregating to Rs. 156.51 Crores from Maharashtra State Electricity Distribution
Company Ltd (MSEDCL).
The Company has acquired 50% equity shares of VIPL at par value, The Company now holds 99% of the paid-up share capital of VIPL.
Ashoka Buildcon emerges as lowest bidder for Chennai-ORR project Tamilnadu
-Ashoka Buildcon Ltd has has declared interim Dividend for the Financial year 2012-13 @ 20% i.e. Rs 2/- per Equity Share.
-Ashoka Buildcon has announces bonus in the ratio of 1:2
-Ashoka Buildcon has splits its face value from Rs 10/- to 5/-
-Ashoka Buildcon Ltd has received Letter of Award for the Project.
-Honoured with prestigious Award - "Lokmat Presents Corporate Excellence Award - 2014".
-The Institute of Engineers India has honoured the Company with the Best Award for promoting Green Building Concept and Infrastructure.
-Company has bagged an award for the "Project of the year (Runner Up) " for its Dhankuni Kharagpur Road Project in the State of Kolkata.
-Re-start of Toll Collection at Dewas Bypass Road Project
-Ashoka Buildcon Ltd warded the Best Professionally Managed Company during the 7th CIDC Vishwakarma Awards
-Ashoka Buildcon arm receives arbitral award
-Ashoka Buildcon acquires 48% stake in JTCL.
-Ashoka Buildcon bags project worth Rs 155.8 crore from National Highways & Infrastructure Development Corporation (NHIDCL) for road project.
-Ashoka Buildcon gets 5 power projects worth Rs 950 crore in Bihar.
- "Acquisition of stake in Mudhol Nipani SPV".
-Ashoka Buildcon secures project worth Rs 179 crore from DVVNL