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State Bank of India's (SBI) private equity funds with Australia's Macquarie Group will jointly invest $150 million in Ashoka Buildcon's subsidiary - Ashoka Concessions Ltd.

The bank also saw its loan impairment charges or provisions jump by a huge 81 per cent to $94 million during the reporting period.
The total income of the bank in the first quarter rose to Rs 8,550.03 crore, from Rs 7,293.68 crore a year ago.
At 3.75 per cent over the US treasury bills, the SBI issue is the cheapest five-year offering by a domestic company till date.
For the six months ending June 30, Standard Chartered reported a net profit of $2.8 billion compared to $2.5 billion a year earlier.
Oriental Bank of Commerce has reported 10.3 per cent rise in net profit, while total income increased by 54 per cent for the first quarter ended June 30, 2012.
Interest income during the quarter registered a growth of 26.8 per cent at Rs 10,545 crore.
ICICI Bank has reported a 36 per cent rise in net profit at Rs 1,815 crore for the quarter ended June 30 on strong loan growth and improving asset quality.
The bank has a board mandate to raise $10 billion from overseas markets over the next few years.