Ashoka Buildcon Limited has announced the sale of land owned by its wholly-owned subsidiary, Viva Highways Limited (VHL). The land, located in Hinjewadi, Pune, under VHL’s real estate portfolio, has been monetized for a total consideration of ₹453 crore.
This sale is in compliance with Regulation 30(9) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as Viva Highways Limited is a material unlisted subsidiary of Ashoka Buildcon. The company shared the news in an official filing with both BSE and NSE on September 5, 2024.
This move adds significant value to Ashoka Buildcon’s asset monetization strategy, enhancing its financial position.
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Ashoka Buildcon