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The latest announcement is out from Ashoka Buildcon Limited ( (IN:ASHOKA) ).
Ashoka Buildcon Limited announced that its wholly-owned subsidiary, Ashoka Infraways Limited, has received approval from the Committee of Creditors for its Resolution Plan concerning Shree Sainath Land & Development India Private Limited. The plan involves a financial commitment of Rs.80.52 Crore to creditors, including an upfront payment to LIC Housing Finance Limited, with the remaining balance to be paid over four years. Additionally, aggrieved homebuyers will receive their properties as per agreed terms. This development positions Ashoka Infraways as the Selected Resolution Applicant, pending approval from the National Company Law Tribunal, potentially enhancing the company’s operations and market positioning.
More about Ashoka Buildcon Limited
Ashoka Buildcon Limited is a prominent player in the infrastructure sector, primarily engaged in the construction and development of highways, bridges, power projects, and buildings. The company focuses on delivering high-quality infrastructure solutions and has a significant market presence in India.
Average Trading Volume: 77,895
Technical Sentiment Signal: Hold
Current Market Cap: 53.77B INR
See more data about ASHOKA stock on TipRanks’ Stock Analysis page.