Ashoka Buildcon share price gains over 5% as it takes full control of Ashoka Highways

The share touched 52-week high of Rs 121.60 and 52-week low of Rs 37 on 22 January, 2020 and 03 April, 2020, respectively.

March 04, 2021 / 03:27 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Ashoka Buildcon share price gained over 5 percent intraday on March 4 after the company entered into an agreement to buy 49 percent stake in Ashoka Highways.

".... has entered into a share purchase agreement with India Infrastructure Fund (IIF) for purchasing directly or through its subsidiary, 49% stake (i.e.1,27,95,399 equity shares of Rs 10 each) held by IIF in Ashoka Highways (Bhandara) along with Zero Interest Shareholders Loan for an aggregate consideration of Rs 35,98,00,000, the company said in its release.

The company already holds 9 shares in AHBL. Ashoka Concessions, a subsidiary of the company holds 1,33,17,653 equity shares, i.e. 51% of the issued, subscribed and paid-up capital of AHBL.

Post completion of this transaction, the company, along with subsidiary/ies, would hold 100% stake in AHBL, it said.

The completion of the above transaction is subject to receipt of the approvals from National Highways Authority of India (NHAI) and if required, from Lenders.

Close

At 14:50 hrs Ashoka Buildcon was quoting at Rs 115.90, up Rs 3.60, or 3.21 percent on the BSE.

The share touched 52-week high of Rs 121.60 and 52-week low of Rs 37 on 22 January, 2020 and 03 April, 2020, respectively.

Currently, it is trading 4.69 percent below its 52-week high and 213.24 percent above its 52-week low.
Moneycontrol News
first published: Mar 4, 2021 03:27 pm

stay updated

Get Daily News on your Browser
Sections