Ashoka Buildcon Secures Majority Stake in JTCL for Rs 166 Crore

Ashoka Buildcon has announced the strategic acquisition of a majority stake in Jaora Nayagaon Toll Road Company Private Limited (JTCL) for a total of Rs 166 crore. This acquisition was formalized on October 1, 2025, after a securities purchase agreement with investors Macquarie SBI Infrastructure Investments and SBI Macquarie Infrastructure Trust.

The acquisition increases Ashoka Buildcon's stake to 61.17% through its subsidiary companies, consolidating its investment portfolio in JTCL. Viva Highways Limited, a subsidiary of Ashoka Buildcon, acquired 7,46,20,000 equity shares of JTCL, significantly bolstering its presence in the private infrastructure sector.

JTCL, incorporated in 2007, operates under a concession from the Madhya Pradesh Road Development Corporation to manage a significant stretch of State Highway-31. This acquisition is set to consolidate the new and existing investments in JTCL, thereby enabling a structured exit for previous investors.

(With inputs from agencies.)