Ashoka Buildcon announced that its wholly owned subsidiary viz. Viva Infrastructure (VIL) has acquired 49% stake (1,27,95,399 equity shares of Rs.10/- each fully paid) held by India Infrastructure Fund (IIF) and the company has acquired One (1) Equity Share of Rs.10/-, 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 49% stake by VIL, Ashoka Concessions, a subsidiary of the Company along with the Company and VIL hold 2,61,13,062 (100%) shares in AHBL w.e.f. 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. 405.000 to Km. 485.000 of NH-6 in the state of Chattisgarh and Maharashtra under NHDP phase IIIA on BOT basis'.
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