ASHOKA BUILDCON LTD. - 533271 - Intimation Regarding Sale/Disposal Of Stake In Jaora-Nayagaon Toll Road Company Private Limited By Ashoka Concessions Limited And Viva Highways Limited Under Regulation 30 Of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015
This is to inform you that subsidiaries of Ashoka Buildcon Ltd, : Ashoka Concessions Ltd & Viva Highways Ltd , have entered into a share purchase agmt. with National Investment & Infrastructure Fund Ltd & Jaora Nayagaon Toll Road Co. Pvt Ltd for sale of 287000000 equity shares in JTCL, constituting 100% of share capital of JTCL, from ACL & VHL to NIIF d settlement of certain assets for a consideration of Rs. 691,00,00,000/- (Rupees Six Hundred and Ninety One Crores only) subject to certain adjustments, as agreed under the SPA.! The current shareholding of ACL and VHL is 37.74% and 10.26% respectively and the completion of the above transaction is subject to: (i) ACL and/ or VHL acquiring balance equity shares in JTCL held by Macquarie SBI Infrastructure Investments Pte Ltd, SBI Macquarie Infrastructure Trust and other shareholders of JTCL; and (ii) completion of certain conditions precedent including approval of lenders of JTCL and the Madhya Pradesh Road Development Corpn. Ltd.17-12-2022