Ashoka Buildcon Limited (the Company) is pleased to inform that the Companys Subsidiary i.e. Ashoka Concessions Limited (ACL) has entered into a share purchase agreement with Highway Concessions One Private Limited (HC1) for purchasing 49% stake (i.e. 14 560 442 equity shares of Rs.10/- each) held by HC1 in Ashoka Highways (Durg) Limited (AHDL / SPV) along with Zero Interest Shareholders Loan for an aggregate consideration of Rs.5 00 00 000/- (Rupees Five Crore only).
Further to inform 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. Please note that 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.
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