Further, the company added that ACL already holds 15,154,732 equity shares of Rs.10/- each, i.e. 51% of the issued, subscribed and paid-up capital of AHDL.
The Company holds 09 shares in AHDL and proposes to buy 1 equity share held by IDFC in AHDL. Post completion of this transaction, the Company along with ACL would hold 100% stake in AHDL.
The completion of the above transaction is subject to completion of customary conditions precedent, said company in a regulatory filing.
Further, 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 IIIA on BOT basis'.
On Wednesday, Ashoka Buildcon ended at Rs95 apiece down by Rs1.15 or 1.2% on the BSE.