Ashoka Buildcon on Thursday said it has acquired a majority stake in Jaora Nayagaon Toll Road Company Private Limited (JTCL) for Rs 166 crore.
Ashoka Buildcon, in a regulatory filing, said the acquisition is pursuant to the securities purchase agreement with Macquarie SBI Infrastructure Investments Pte Limited and SBI Macquarie Infrastructure Trust (collectively ‘investors’) for the acquisition of all investments of the investors in JTCL.
“Ashoka Buildcon’s subsidiary Viva Highways Limited has today acquired 7,46,20,000 equity shares of Rs 10 each, held by the investors in JTCL, at a consideration of Rs 1,66,59,93,151.
“In view of the above acquisition by VHL, the shareholding of the Company in JTCL through its subsidiaries viz VHL & ACL has increased to 61.17 per cent of the paid-up share capital of JTCL,” it said.
Jaora Nayagaon Toll Road Company Private Limited (JTCL) has a total income of Rs 265.50 crore and a net worth of Rs 639.89 crore, based on audited financial statements
