Ashoka Buildcon JV emerges lowest bidder for Rs611 crore project; Stock rises 3%

4 Jul 2022 , 02:27 PM

Ashoka Buildcon Limited had submitted its bid in Joint Venture (the Company is a Lead Member) with Cube Construction Engineering Limited to Department of Information Technology & Communication, Govt. of Rajasthan (“Authority”) for the Project viz. ‘Request for Proposal for Selection of Agency for Construction and Maintenance of Rajiv Gandhi Fintech Digital Institute, Jodhpur’ (Project).

As per the filing, the Joint Venture emerged as “the Lowest Bidder” at the Financial Bid opening meeting held on July 1, 2022.

The awarded Bid Project Cost for the Project is Rs611 crore and the share of the Company in JV is 65%.

The Construction period is 18 months from commencement date, the company said in a regulatory filing.

At around 2:31 PM, Ashoka Buildcon was trading at Rs74.90 per share up by Rs2.25 or 3.1% from its previous closing of Rs72.65 per share on the BSE.