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Ashoka Buildcon has entered into a share purchase agreement (SPA) with GVR Infra Projects (GIPL) and GVR Ashoka Chennai ORR (CORR) for the acquisition of 9,45,00,000 equity shares held by GIPL in CORR,
constituting 50% of the share capital of CORR, for a consideration of Rs.185 crore subject to terms as agreed under the Share Purchase
Agreement (SPA).
Post-acquisition of 50% equity shares held by GIPL, CORR would become wholly-owned subsidiary of the Company with effect from the date of acquisition of all 9,45,00,000 equity shares.
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