Ashoka Buildcon Steers into Chhattisgarh’s Gems & Jewellery Park with New SPV
Ashoka Buildcon Limited has taken its first step into the specialised industrial infrastructure segment by incorporating a Special Purpose Vehicle (SPV) for the development of a Gems & Jewellery Park in Raipur, Chhattisgarh.
The project will be developed under the Public-Private Partnership (PPP) model and represents the company’s strategic expansion beyond its traditional infrastructure businesses such as highways, bridges, and buildings.
New SPV Incorporated for PPP Project
Ashoka Buildcon has subscribed to the initial share capital of the newly incorporated Ashoka – RDB Infrastructure & Development Private Limited, which will serve as the SPV for implementing the project.
The proposed Gems & Jewellery Park will be developed at Krishi Upaj Mandi, Mandi Road, Pandri, Raipur, with the objective of creating dedicated infrastructure for the gems and jewellery industry.
Initial Investment
As part of the incorporation, Ashoka Buildcon subscribed to 5,100 equity shares having a face value of ₹10 each, amounting to an initial investment of ₹51,000 in cash.
The investment represents the initial capital required to establish the SPV and does not reflect the overall project cost. Additional investments are expected as the project progresses through various development stages.
Diversifying Beyond Core Infrastructure
The proposed project marks another step in Ashoka Buildcon’s strategy to diversify its business portfolio by participating in specialised infrastructure and industrial development projects.
The Gems & Jewellery Park is expected to provide modern infrastructure for manufacturers, traders, and exporters, supporting the growth of the sector in Chhattisgarh while promoting industrial development in the region.
Key Highlights
- SPV: Ashoka – RDB Infrastructure & Development Private Limited
- Project: Development of a Gems & Jewellery Park under the PPP model
- Location: Krishi Upaj Mandi, Mandi Road, Pandri, Raipur, Chhattisgarh
- Initial investment: ₹51,000 through subscription to 5,100 equity shares