Ashok Buildcon's NCDs unable to spike share prices
DSIJ Intelligence / 17 Nov 2016
One of the largest highway developers in the country, Ashok Buildcon which earlier announced that it will come up with an NCD has finally come up with one. The company has informed BSE that one of its Project SPVs viz. Ashoka Highways (Durg) Ltd.
One of the largest highway developers in the country, Ashok Buildcon which earlier announced that it will come up with an NCD has finally come up with one. The company has informed BSE that one of its Project SPVs viz. Ashoka Highways (Durg) Ltd. ("SPV") has issued Non-Convertible Debentures of Rs 200 crores to IDFC Infra Debt Limited, as a part of refinancing. The NCDs will carry coupon rate at 9.40 per cent per annum. The SPV has re-paid the rupee term of Rs 200 crores loan, carrying interest cost at 9.90 per cent per annum.
However, the announcement did not have an impact on the stock prices and as at 3.05 pm shares are trading at Rs 150, down by 2.34 per cent. The shares in the last six months have given a return of 9 per cent. Fifty-two-week High/Low of the company stands at Rs 211.90/111.
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