Ashoka Buildcon has further acquired 1.60 crore equity shares of Ashoka GVR Mudhol Nipani Roads (SPV) held by GVR Infra Projects. The Company now holds 5.52 crore (99.99%) equity shares of Rs 10 each fully paid in the SPV. The Company had already paid in earlier year’s aggregate consideration of Rs 35.69 crore. Prior to acquisition the company was holding 71% of the paid-up share capital of SPV.
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.
