Ashoka Buildcon has acquired 10,000 equity shares of Rs 10 each fully paid (100% of the paid-up capital) of Ashoka Path Nirman (Nasik). Consequently, Ashoka Path Nirman (Nasik) has become a wholly owned subsidiary of the company.
The company’s subsidiary - Viva Highways has recently entered into a Share Purchase Agreement with PNC Infratech for purchase of 2,44,23,700 constituting 8.51% of share capital of JTCL equity shares of Rs 10 each fully paid for an aggregate consideration of Rs 34.19 crore held in Jaora-Nayagaon Toll Road Company (JTCL).
Ashoka Buildcon builds and operates roads and bridges in India on a build, operate and transfer (BOT) basis. It currently operates one of the highest numbers of toll-based BOT projects in India.
