Ashoka Buildcon Limited Allots Shares Under Rights Issue to Subsidiary
Ashoka Buildcon Limited announced the allotment of 66,50,000 equity shares to Ashoka Infrastructure Limited (AIL), its wholly-owned subsidiary, under a rights issue on March 30, 2026. The total value of the allotment amounted to Rs. 6.65 Crore.Following the share allotment, Ashoka Buildcon Limited now holds 3,30,50,000 equity shares of Rs. 10 each, fully paid up. AIL continues to operate as a wholly-owned subsidiary of Ashoka Buildcon Limited.
Details of Ashoka Infrastructure Limited
According to audited financial statements for the fiscal year 2024-25, AIL reported a total income of Rs. 1,381.15 lakh and a net worth of Rs. (5,001.04) lakh. The acquisition is considered a related-party transaction, with the promoter group having no interest in AIL. AIL operates within the infrastructure sector and the acquisition is expected to enhance Ashoka Buildcon’s business in the road and power sectors.
The acquisition was completed on March 30, 2026, with a cash consideration of Rs. 6,65,00,000.
Table: Acquisition Details
| Particulars | Details |
|---|---|
| Name of Target Entity | Ashoka Infrastructure Limited (AIL) |
| Related Party Transaction | Yes |
| Industry | Infrastructure |
| Reason for Acquisition | To add value to the business of Company |
| Completion Date | March 30, 2026 |
| Consideration Type | Cash Consideration |
| Cost of Acquisition | Rs. 6,65,00,000 |
| Shares Acquired | 66,50,000 |
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