ASHOKA BUILDCON LTD SUBSIDIARY DILUTES STAKE TO 39.33%

Ashoka Purestudy Technologies Private Limited (APTPL), a subsidiary of Ashoka Buildcon, has allotted 29,879 equity shares on preferential basis. The allotment has diluted Ashoka Buildcon's stake in APTPL from 59% to 39.33%. APTPL ceases to be a subsidiary and is now an associate company. The preferential allotment was to a new, independent third-party investor. APTPL raised capital for growth and expansion. There is no special benefit to Ashoka Buildcon's promoter group.

Ashoka Buildcon Limited

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