Ashoka Buildcon informs about updates on acquisition

24 Sep 2022 Evaluate
Ashoka Buildcon has informed that the Company's Wholly Owned Subsidiary viz. Viva Infrastructure ('VIL') has acquired 49% stake (1,27,95,399 equity shares of Rs 10 each fully paid) held by IIF and the Company has acquired One Equity Share of Rs 10, held by IDFC in Ashoka Highways (Bhandara) ('AHBL/ SPV').  This is pursuant to pursuant to share purchase agreement by the Company and Ashoka Concessions with India Infrastructure Fund (IIF). Post-acquisition of 49% stake by VIL, Ashoka Concessions, a subsidiary of the Company along with the Company and VIL holds 2,61,13,062 (100%) shares in AHBL with effective from September 23, 2022. AHBL executes the Project awarded by NHAI - 'To carry on the business of Construction, Operation and Maintenance of Chattisgarh / Maharashtra Border - Wainganga Bridge Section from Km. 405.000 to Km. 485.000 of NH-6 in the state of Chattisgarh and Maharashtra under NHDP phase IIIA on BOT basis.'

The above information is a part of company’s filings submitted to BSE.

Ashoka Buildcon Share Price

74.30 0.55 (0.75%)
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