Ashoka Buildcon has informed that the Company has entered into a share purchase agreement with India Infrastructure Fund (IIF) for purchasing directly or through its subsidiary, 49% stake (1,27,95,399 equity shares of Rs 10 each) held by IIF in Ashoka Highways (Bhandara) (AHBL/ SPV) along with Zero Interest Shareholders Loan for an aggregate consideration of Rs 35,98,00,000. Further informed that the Company already holds 09 shares in AHBL. Ashoka Concessions, a subsidiary of the Company holds 1,33,17,653 equity shares of Rs 10 each, i.e. 51% of the issued, subscribed and paid-up capital of AHBL. Post completion of this transaction, the Company along with subsidiary/ies would hold 100% stake in AHBL. The completion of the above transaction is subject to receipt of the approvals from National Highways Authority of India (NHAI) and if required, from Lenders.
The above information is a part of company’s filings submitted to BSE.
