Ashoka Buildcon has acquired 60% stake in equity share capital of Ashoka Bettadahalli Shivamogga Road (ABSRPL) viz., 30000 equity shares of Rs 10 each for an aggregate consideration of Rs 3 lakh. ABSRPL was a step down subsidiary of the company prior to the abovementioned acquisition.
ABSRPLL executes the Project awarded by NHAI viz. Four Lanning of Tumkur - Shivamogga Section from Ch.170+415 km. to Ch.226+750 km., Bettadahalli - Shivamogga Section of NH-206 on Hybrid Annuity mode under Bharatmala Pariyojana in the State of Karnataka (Package IV) awarded by National Highways Authority of India (NHAI). The Project was awarded in March 2019. The Total estimated Cost of the Project is Rs 1157.22 crore. The SPV is in process of completing its financial closure post signing of Concession Agreement.
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.
