M&A

M&A

Ashoka Concessions acquires 49% addnl stake in Ashoka Highways (Durg)

BSE  

Ashoka Buildcon's subsidiary Ashoka Concessions Ltd (ACL) has acquired a 49% stake (over 1.45 crore equity shares of INR 10 each, fully paid) held by Highway Concessions One in Ashoka Highways (Durg) Ltd (AHDL). Post-acquisition, ACL holds 99.999 % shares in AHDL except 1 share held by IDFC as of November 30, 2021. AHDL executes the project awarded by NHAI to carry on the business of construction, operation and maintenance end of Durg Bypass – Chhattisgarh/Maharashtra border section from Km. 322.4 to Km. 405 of NH-6 in the State of Chattisgarh under NHDP phase lIlA on BOT basis.