Speaking to CNBC-TV18, Paresh Mehta, CFO of the company said that 8.5 percent stake was taken over by Viva Highway, as subsidiary of Ashoka.
The company now holds 10.26 percent in JTCL through to Viva Highway and 37.74 percent in JTCL through Ashoka Concessions, aggregating 48 percent of JTCL.