Ashoka Buildcon Limited has announced the allotment of 1,45,20,000 equity shares from its wholly owned subsidiary, Ashoka Baswantpur Singnodi Road Private Limited (ABSRPL), under a rights issue. The shares, valued at ₹10 each, amount to a total of ₹14.52 crore.
The acquisition was finalised during a meeting held on April 29, 2026, as per the company’s regulatory filing with the National Stock Exchange of India. Following this transaction, Ashoka Buildcon now holds a total of 4,69,90,000 fully paid-up equity shares in ABSRPL, maintaining its status as a wholly owned subsidiary.
ABSRPL, which belongs to the infrastructure sector, reported a total income of ₹17,123.43 lakh and a net worth of ₹13,554.15 lakh for the financial year 2024-25. The company is engaged in infrastructure development, specifically in designing, engineering, and constructing road projects. It operates as a Special Purpose Vehicle (SPV) for the development of a 6-lane access-controlled greenfield highway under the Bharatmala Pariyojana project, awarded by the National Highways Authority of India.
The acquisition was completed through a cash consideration, and no governmental or regulatory approvals were required for the transaction. The rights issue aligns with Ashoka Buildcon’s strategic focus on enhancing its infrastructure capabilities and expanding its portfolio in the road and power sectors.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).