Ashoka Buildcon update on SPV - Ashoka Highways Bhandara

28 Sep 2022 , 01:33 AM

Ashoka Buildcon announced that its wholly owned subsidiary viz Viva Infrastructure VIL has acquired 49Percentage stake 12795399 equity shares of Rs10 each fully paid held by India Infrastructure Fund IIF and the company has acquired One 1 Equity Share of Rs10 held by IDFC in Ashoka Highways Bhandara AHBL SPV This is pursuant to share purchase agreement by the Company and Ashoka Concessions with IIF Post-acquisition of 49Percentage stake by VIL Ashoka Concessions a subsidiary of the Company along with the Company and VIL hold 26113062 100Percentage shares in AHBL wef 23 September 2022 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 405000 to Km 485000 of NH-6 in the state of Chattisgarh and Maharashtra under NHDP phase IIIA on BOT basis