Ashoka Buildcon’s subsidiaries -- Ashoka Concessions (ACL) and Viva Highways (VHL) have entered into a share purchase agreement (SPA) with National Investment and Infrastructure Fund (NIIF) and Jaora Nayagaon Toll Road Company (JTCL) for the sale of 28,70,00,000 equity shares in JTCL, constituting 100% of the share capital of JTCL to NIIF and settlement of certain assets for a consideration of Rs 691 crore subject to certain adjustments, as agreed under the SPA.
The current shareholding of ACL and VHL is 37.74% and 10.26% respectively and the completion of the above transaction is subject to ACL and/ or VHL acquiring balance equity shares in JTCL held by Macquarie SBI Infrastructure Investments, SBI Macquarie Infrastructure Trust and other shareholders of JTCL; and completion of certain conditions precedent including approval of the lenders of JTCL and the Madhya Pradesh Road Development Corporation.
Ashoka Buildcon builds and operates roads and bridges in India on a build, operate and transfer (BOT) basis.
| Company Name | CMP |
|---|---|
| Larsen & Toubro | 4094.95 |
| Rail Vikas Nigam | 303.10 |
| NCC | 161.30 |
| KEC International | 580.10 |
| Kalpataru Projects | 1232.90 |
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