Ashoka Buildcon SPV completes refinancing of ₹363 debt with IDFC

Ashoka Highways (Durg), one of the project special purpose vehicles (SPVs) of Ashoka Buildcon , has completed refinancing of its debt of ₹363.40 crore with IDFC. Post-refinancing, interest cost has been reduced to 10.75 per cent per annum, resulting in a saving of 1.70 percentage points and extension of repayment period, the company said in a statement to the exchanges. The stock of Ashoka Buildcon closed at ₹172.90 on the NSE, up 0.9 per cent.