M&A

M&A

Ashoka Buildcon acquires majority stake in Jaora-Nayagaon Toll Road Co. in MP

Mint  

Ashoka Buildcon has significantly increased its stake in Jaora-Nayagaon Toll Road Company Pvt Ltd (JTCL) to 61.17%.The acquisition was executed through Ashoka Buildcon's subsidiary, Viva Highways Limited, which purchased 7,46,20,000 equity shares from Macquarie SBI Infrastructure Investments Pte Ltd and SBI Macquarie Infrastructure Trust - valued at INR 166.59 crore.JTCL, which operates under a concession granted by the Madhya Pradesh Road Development Corporation, is involved in the reconstruction, strengthening, widening, and rehabilitation of a significant stretch of State Highway-31 in Madhya Pradesh.JTCL reported a total income of INR 265.50 crore and a net worth of INR 639.89 crore for the fiscal year 2025.