Ashoka Buildcon: Updates On Acquisition Of Stake In Ashoka Highways (Bhandara) Limited | Value Research

Ashoka Buildcon: Updates On Acquisition Of Stake In Ashoka Highways (Bhandara) Limited

Ashoka Buildcon Ltd. is pleased to inform that the Companys Wholly Owned Subsidiary viz. Viva Infrastructure Ltd (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 (1) Equity Share of Rs.10/- held by IDFC Limited in Ashoka Highways (Bhandara) Ltd (AHBL / SPV). This is pursuant to pursuant to share purchase agreement by the Company and Ashoka Concessions Limited with India Infrastructure Fund (IIF). Post-acquisition of 49% stake by VIL Ashoka Concessions Limited a subsidiary of the Company along with the Company and VIL holds 2 61 13 062 (100%) shares in AHBL w.e.f. September 23 2022 Please note that AHBL executes the Project awarded by NHAI viz. 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.

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