Ashoka Buildcon Limited has informed the Exchange about acquisition of 7,46,20,000 equity shares of Rs.10/- each, held by the Investors in JTCL, at consideration of Rs.1,66,59,93,151/- by its 100% subsidiary, Viva Highways Limited.
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Ashoka Buildcon's wholly-owned subsidiary, Viva Highways Limited, is acquiring 7,46,20,000 equity shares (face value Rs.10 each) of JTCL (Jaora Toll Company Limited) currently held by investors. The total consideration for the deal is Rs. 1,66,59,93,151 (approximately Rs. 166.6 crore). JTCL is a toll road project company, and this move consolidates the investor stakes in this toll asset under Ashoka Buildcon's group.
This acquisition gives Ashoka Buildcon's subsidiary full control over JTCL, simplifying the toll road asset structure and potentially improving cash flow visibility from this project. The deal uses subsidiary-level capital, so the immediate impact on the listed company's standalone financials may be limited, but it strengthens the group's infrastructure portfolio.