Ashoka Buildcon has entered into a share purchase agreement with GVR Infra Projects by way of transfer of 23% stake (i.e. 12,702,900 equity shares of Rs 10 each) and transfer of beneficial interest of 26% stake (i.e. 14,359,800 equity shares of Rs 10 each) in Ashoka GVR Mudhol Nipani Roads (AGMNRL) for an aggregate consideration of Rs 35.69 crore. The company already holds 51% of the issued and paid-up share capital of AGMNRL.
Ashoka Buildcon is one of the largest highway developers in the country with an impressive portfolio of over 28 PPP (Public Private Partnership) projects. It is present across nine states in the country executing several prestigious projects for National and State Governments.
