Ashoka Buildcon rises on entering into share purchase pact with GVR Infra Projects

31 May 2016

Ashoka Buildcon is currently trading at Rs 137.10, up by 0.75 points or 0.55% from its previous closing of Rs. 136.35 on the BSE.

The scrip opened at Rs. 137.00 and has touched a high and low of Rs. 137.70 and Rs. 136.15 respectively. So far 18110 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 211.90 on 23-Dec-2015 and a 52 week low of Rs. 111.00 on 07-Apr-2016.

Last one week high and low of the scrip stood at Rs. 140.00 and Rs. 134.75 respectively. The current market cap of the company is Rs. 2554.58 crore.

The promoters holding in the company stood at 56.65% while Institutions and Non-Institutions held 30.55% and 12.80% respectively.

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.

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Ashoka Buildcon Share Price

113.45 -2.90 (-2.49%) Mar 05, 18:59
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