Ashoka Buildcon enters into SPA with IIF for acquiring 49% stake in SPV Posted On: 2021-03-04 00:16:14 (Time Zone: Arizona, USA) Ashoka Buildcon Limited ("the Company") has entered into a share purchase agreement(SPA) with India Infrastructure Fund (IIF) for purchasing directly or through its subsidiary, 49% stake (i.e.1,27,95,399 equity shares of Rs.10/- each) held by IIF in Ashoka Highways (Bhandara) Limited ("AHBL / SPV") along with Zero Interest Shareholders Loan for an aggregate consideration of Rs.35,98,00,000/- (Rupees Thirty Five Crore and Ninety Eight Lakh only). The Company already holds 09 shares in AHBL. Ashoka Concessions Limited, a subsidiary of the Company holds 1,33,17,653 equity shares of Rs.10/- each, i.e. 51% of the issued, subscribed and paid-up capital of AHBL. Post completion of this transaction, the Company along with subsidiary/ies would hold 100% stake in AHBL.