Ashoka Buildcon acquires 60% stake in Ashoka Bettadahalli Shivamogga Road

Ashoka Buildcon acquires 60% stake in Ashoka Bettadahalli Shivamogga Road

Sep 23, 2021 08:09 IST capital market

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.

ABSRPL executes the Project awarded by National Highways Authority of India (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).

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