Ashoka Concessions Ltd acquires 49% stake in SPV

Ashoka Buildcon Limited's Subsidiary i.e. Ashoka Concessions Limited ('ACL') has acquired 49% stake (1,45,60,442 equity shares of Rs.10/- each fully paid) pursuant to share purchase agreement with Highway Concessions One Private Limited ('HC1') held by HC1 in Ashoka Highways (Durg) Limited ('AHDL / SPV').

Post-acquisition of 49% stake, Ashoka Concessions Limited, a subsidiary of the Company along with the Company holds 29715183 (99.999%) shares in AHDL except 1 share held by IDFC Limited w.e.f November 30, 2021.

AHDL executes the Project awarded by NHAI viz. 'To carry on the business of Construction, Operation and Maintenance End of Durg Bypass - Chattisgarh / Maharashtra Border Section from Km. 322.400 to Km. 405.000 of NH-6 in the state of Chattisgarh under NHDP phase lIlA on BOT basis'.

Shares of Ashoka Buildcon Limited was last trading in BSE at Rs. 96.20 as compared to the previous close of Rs. 94.55. The total number of shares traded during the day was 216258 in over 2601 trades.

The stock hit an intraday high of Rs. 97.55 and intraday low of 95.10. The net turnover during the day was Rs. 20900051.00.

Source : Equity Bulls

Keywords

AshokaBuildconLimited INE442H01029 AshokaConcessions StakeAcquisition SPV HC1