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: Year Milestones 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 Maharashtra. 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 flyover. 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 `Most Outstanding Bridge-Excellent Aesthetic Matching Environment' 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 NH-4. 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 `NIMA Excellence Award' by the Nashik Industries and Manufacturer's Association. 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 share 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 `CM Shah Concrete Technology Award' by Institution of Engineers, India, Pune Local Centre 1997 Awarded the National Award for `Most Outstanding Bridge-Excellent Aesthetic Matching Environment for Kothrud flyover, Pune and Shivna bridge from Indian Institute of Bridge Engineers 1998 The quality management systems of the Company were ISO 9001:2000 certified by International Standards Certifications Pty Limited Awarded the `Director's Work of World Class Quality Award' for the project executed for Proctor and Gamble in Goa 2001 Awarded the `National Award -Most Outstanding Bridge' for construction of Bhor bridge. Awarded the NIMA Excellence Award by the Nashik Industries and Manufacturer's 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 `Environmental Management System 14001:2004; ISO 9001:2004; ISO 18001:2007' 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 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. 2010 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 2011 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 DistributionCompany Ltd (MSEDCL). 2012 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 2013 -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/- 2014 -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. 2015 -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 2016 -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 2017 - Ashoka Buildcon Ltd has "Receipt of Letters of Award for Power Project in the State of Bihar. -Ashoka Buildcon Ltd has been honoured with prestigious Award -"Infra Company of the Year Award" at the EPC World Awards held in Delhi. -Ashoka Buildcon Ltd. has won Letter of Award (LoA) from Mumbai International Airport to develop land parcels in village Sahar. - Ashoka Buildcon gets New project from National Highways Authority of India in Vizag in the State of Andhra Pradesh. -Ashoka Buildcon gets Rs 116.72 cr power project in Bihar 2018 -Ashoka Buildcon Ltd has issued Bonus Shares in the Ratio of 1:2 -Ashoka Buildcon Limited has 'Declaration of an Appointed Date for NHAI Project' -Ashoka Buildcon Limited has received Letter of Acceptance by RVNL, for the Project "Construction of roadbed, bridges -Ashoka Buildcon Ltd Awarded for Innovations in CSR Practices by ET Now Presents CSR Leadership Awards -2018 2019 -Ashoka Buildcon Limited has 'Receipt of Letter of Award (LOA) for NHAI Project -Ashoka Buildcon Limited has 'Receipt of LOA for Uttar Pradesh Expressways Industrial Development Authority Project' -Ashoka Buildcon Limited has'Receipt of provisional Completion certificate for KRDCL Project' 2020 -Ashoka Buildcon Ltd has acquired additional 1.6 crore shares in its arm Ashoka GVR Mudhol Nipani Roads Ltd -Ashoka Buildcon Limited has Acquired stake in Mudhol Nipani SPV 2021 -Ashoka Buildcon Limited has Acquired stake in shoka Concessions Limited -Ashoka Buildcon Limited has Received Work order for the execution of the work of construction of Rock fill embankment and subgrade work for Navi Mumbai International Airport Project' -Ashoka Buildcon Limited was Award for JNPT Road Project by Construction Week at the Equipment and Infra Awards 2021 -Ashoka Buildcon has receives letter of award from Ministry of Road Transport and Highways in respect of the project in Goa -Ashoka Buildcon has acquires 60% stake in Ashoka Bettadahalli Shivamogga Road Private Limited -Ashoka Buildcon Limited has Received NOA (Notification of Award) for Solar Project on EPC Basis 2022 -Ashoka Buildcon bags projects worth Rs 754.57 cr -Ashoka Buildcon achieves financial closure for NHAI road project (Baswantpur to Singondi) -Ashoka Buildcon bags Rs 208.89 cr project from East Central Railways. -Ashoka Buildcon receives LoA for Rs 693 crore project from Northeast Frontier Railway. - Ashoka Buildcon bags project worth Rs 112 cr for the construction of mall-cum multiplex.