The Indian stock market's sharp decline on August 5 reflects a widespread negative sentiment among investors, driven by various economic and market factors.
The company expects to raise 1,252.66 crore from its initial offer, with 684.25 crore for issuing new shares.
The IPO includes a fresh issue of equity shares up to ₹5,500 crore and an offer for sale (OFS) of 8.49 lakh equity shares valued at ₹645.56 crore
The company's first-quarter results were released during market hours, contributing to the positive market response.
The company's first-quarter earnings before interest, taxes, depreciation, and amortisation (EBITDA) were ₹622 Crore.
Ashoka Buildcon Ltd works in the construction and infrastructure facilities sectors, using both the EPC and build-operate-transfer methods.
The much-anticipated ₹4,194-Crore initial public offering (IPO) is set to open for subscription on August 6.
In July, Class 8 truck orders in North America reached a 15-month low of 12,400 units. These orders were down 5% from June.
The IPO is set to open on August 6 and will remain open for bidding until August 8.
The company announced the addition of 54 net new stores in under-penetrated markets, increasing its total store count to 1,836 as of June 30, 2024.
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