Ashoka Buildcon Limited has informed the Exchange about General Updates
ASHOKA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Ashoka Buildcon's wholly-owned subsidiary ABSRPL allotted 1.45 crore equity shares of Rs.10 each for Rs.14.52 crore under a Rights Issue to the parent company. Post-allotment, Ashoka Buildcon now holds 4.70 crore fully-paid equity shares in ABSRPL, which remains a 100% subsidiary. ABSRPL is a Special Purpose Vehicle incorporated in 2022, engaged in developing a 6-lane highway project (Baswantpur to Singnodi Section) under Bharatmala Pariyojana, awarded by NHAI. The subsidiary had FY24-25 turnover of Rs.171.23 crore with net worth of Rs.135.54 crore.
This is an intra-group capital infusion where the parent company funds its subsidiary. Neutral impact on Ashoka Buildcon's stock as no new external capital is raised. The investment supports the subsidiary's highway development project.