Ashoka Buildcon has acquired 50% equity shares of Viva Infrastructure (VIPL) at par value. Pursuant to this acquisition, VIPL which had been an associate has now become the subsidiary company.
Further, Ashoka Buildcon now holds 99% of the paid-up share capital of VIPL.
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.