Ashoka Buildcon has completed the acquisition of a 100% equity stake in Sakoli Power Transmission Limited for ₹3.06 crore, making the entity a wholly owned subsidiary.

The transaction, disclosed on September 23, 2026, involves the purchase of shares from REC Power Development and Consultancy Limited. The acquisition was executed pursuant to a Share Purchase Agreement signed following a Letter of Intent received on August 13, 2026, as part of a Tariff Based Competitive Bidding process for a transmission project.

Acquisition details

The following table summarises the key details of the transaction:

Project scope and timeline

Sakoli Power Transmission Limited is a Special Purpose Vehicle (SPV) incorporated on July 7, 2025. It was established specifically to provide transmission services on a Build-Own-Operate-Transfer (BOOT) basis. The SPV's primary objective is to establish and develop infrastructure for the AIS Sakoli Substation (New 400 kV AIS Substation) and associated transmission lines.

The Scheduled Date of Commercial Operation for the project is set at 24 months from the date of acquisition. As the SPV was incorporated recently, historical turnover data for the last three years is not applicable, and the size/turnover is currently nil.

Regulatory and strategic context

The acquisition required approval from the Ministry of Power for the share transfer of the SPV, which has been received. The transaction does not fall within Related Party Transactions, and no promoter or group companies hold any interest in the entity being acquired prior to this deal.

Ashoka Buildcon’s move reflects its continued interest in expanding its portfolio within the power transmission segment. The consideration paid includes the share purchase price along with relevant expenses and liabilities of the SPV incurred to date.

Ashoka Buildcon Limited has confirmed the book closure period for its 33rd Annual General Meeting. The Register of Members and Share Transfer Books will remain closed from Saturday, September 19, 2026, to Friday, September 25, 2026.

The company issued this intimation on September 2, 2026, pursuant to Regulation 42 of the SEBI (LODR) Regulations, 2015. This follows an earlier notification on August 29, 2026, which announced the AGM schedule and agenda items published in Free Press Journal and Punyanagari newspapers as per SEBI LODR Regulation 47.

Meeting Details

The AGM will be held on Friday, September 25, 2026, at 12:30 pm through Video Conferencing or Other Audio Visual Means. Shareholders holding equity shares as on the cut-off date of Friday, September 18, 2026, are eligible to vote. Voting rights correspond to the proportion of paid-up equity capital held.

Key Agenda Items

The meeting will address several ordinary and special resolutions. Key items include:

Mr. Sanjay Londhe and Mr. Ashish Kataria are set to be re-designated from Whole-time Director to Joint Managing Director with effect from August 11, 2026. This change aligns with the company's long-term strategy and succession planning. Their remuneration terms remain unchanged from those approved in previous postal ballots.

E-Voting Process

Members may cast votes electronically before or during the meeting. Remote e-voting will commence on Tuesday, September 22, 2026, at 9:00 am and end on Thursday, September 24, 2026, at 5:00 pm. Those with demat shares should contact NSDL or CDSL helpdesks for login issues. Physical shareholders must contact MIPL’s INSTAVOTE helpdesk.

The Register of Members and Share Transfer Books will remain closed from Saturday, September 19, 2026, to Friday, September 25, 2026.

Additional Information

The notice and annual report for FY25-26 are available on the company website and stock exchange portals. Shareholders are advised to register email addresses with depository participants to receive documents electronically.