ASHOKA BUILDCON LTD. - Announcement under Regulation 30 (LODR)-Acquisition

Ashoka Buildcon Limited ('the Company') is pleased to inform that the Company has entered into a share purchase agreement 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). <BR> <BR> Further to inform that 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.<BR> <BR> The completion of the above transaction is subject to receipt of the approvals from National Highways Authority of India (NHAI) and if required, from Lenders.<BR>