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Centrum Broking Report
Ashoka Buildcon Ltd. has signed a revised agreement with SBI-Macquarie in respect of SBI-Macquarie's Rs 8 billion investment in Ashoka Concessions Ltd.
The revised agreement caps the assured valuation at ~Rs 12 billion (till December 2021) from Rs 15.3 billion earlier, thereby lowering the burden for Ashoka Buildcon by Rs 3.3 billion (10% of market cap) – positive for the company.
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