SNG & Partners acts for investors, debenture trustee on Ashoka Buildcon’s ₹300 crore NCD issuance

SNG & Partners advised investors and debenture trustees on their investment in Ashoka Buildcon Limited’s issue of non-convertible debentures (NCDs), aggregating to a total of ₹300 crore.

SNG & Partners oversaw the drafting, reviewing, and negotiation of transaction documents, along with ensuring the subsequent listing of the debentures on the stock exchange.

The transaction team consisted of Aditya Vikram Dua (Partner), Aniket Sawant (Associate Partner), Parvathi Menon (Senior Associate) and Kartikeya Rao (Associate).

Ashok Buildcon issued 30,000 senior, unsecured, rated, listed, redeemable, rupee-denominated, non-convertible debentures (NCDs), each with a face value of ₹1 lakh, aggregating to a total of ₹300 crore.

The financing vide the NCDs is strategically structured to support Ashoka’s capital expenditures, long-term working capital needs, debt refinancing, and routine business operations, thereby bolstering the company’s growth and expansion trajectory.

Ashoka Buildcon Limited is a prominent infrastructure development company in India with a diversified portfolio of projects spanning roads, highways, bridges, and buildings. Established in 1976, the company has grown to become a leader in engineering, procurement, and construction (EPC) services. Its expertise lies in delivering high-quality infrastructure solutions that meet international standards while focusing on cost efficiency and timely completion. Ashoka Buildcon is known for its innovation and the use of advanced technologies in construction, which has enabled it to execute complex projects across the country.

The company is particularly renowned for its work in the roads and highways sector, which constitutes a significant part of its business. Ashoka Buildcon has been involved in developing and maintaining numerous large-scale projects, including national and state highways, expressways, and urban road systems. It operates on various models, such as Build-Operate-Transfer (BOT) and Hybrid Annuity Model (HAM), reflecting its ability to adapt to different project requirements and funding structures. Beyond roads, the company has also ventured into power transmission and distribution, contributing to India’s energy infrastructure.

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