Ashoka Buildcon Limited has informed the stock exchanges that its wholly owned subsidiary, Ashoka Baswantpur Singnodi Road Private Limited (ABSRPL), has allotted 1,45,20,000 equity shares of Rs.10/- each aggregating Rs.14.52 Crore to the company through a rights issue. The allotment was completed at a meeting held on April 29, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

Following the allotment, Ashoka Buildcon Limited now holds 4,69,90,000 equity shares of Rs.10/- each fully-paid up. ABSRPL continues to remain a wholly owned subsidiary of the company post-allotment. The acquisition involved cash consideration of Rs.14,52,00,000/- (Indian Rupees Fourteen Crore Fifty Two Lakhs only).

Subsidiary Financial Performance

ABSRPL, incorporated on April 12, 2022, operates as a Special Purpose Vehicle in the infrastructure sector. The entity's financial performance over the past three fiscal years shows significant growth:

Business Operations

ABSRPL's primary business involves designing, engineering, building, financing, procurement, construction, development, commissioning, operation, and maintenance of infrastructure projects. The company is currently engaged in the development of a 6-lane Access Controlled Greenfield highway from KM 162.500 to KM 203.100, Baswantpur to Singnodi Section of NH 150 C (Package IV of Akkalkot KNT TS Border) on Hybrid Annuity Mode (HAM) under Bharatmala Pariyojana. The project has been awarded by the National Highways Authority of India (NHAI).

The infrastructure development company operates entirely within India and continues to be a 100% subsidiary of Ashoka Buildcon Limited following the rights issue allotment.

Ashoka Buildcon Limited has received a Letter of Contract Acceptance from the Ministry of Energy and Water, Republic of Angola, for a significant infrastructure project valued at USD 72,359,639.46. The company announced this development on April 24, 2026, under Regulation 30 of SEBI listing requirements.

Project Overview

The awarded project, titled 'Electricity Sector Improvement and Access Project,' involves the design, supply, installation and commissioning of rehabilitation of distribution networks for Lot 5 Luanda City 2 in the Republic of Angola. This international contract represents a substantial addition to Ashoka Buildcon's order book and demonstrates the company's capability to secure major overseas infrastructure projects.

Contract Specifications

The project encompasses comprehensive electrical infrastructure development, focusing on upgrading and rehabilitating existing distribution networks in Angola's capital region. The 24-month execution timeline indicates a substantial scope of work that will contribute significantly to Angola's power sector improvement initiatives.

The contract award follows a competitive bidding process where Ashoka Buildcon successfully demonstrated its technical capabilities and competitive positioning in the international infrastructure market. This project marks the company's continued expansion in African markets and strengthens its presence in the power sector.

Regulatory Compliance

The company has fulfilled all disclosure requirements under SEBI regulations, with the trading window for designated persons already closed until 48 hours after the declaration of financial results for the quarter and year ended March 31, 2026. The announcement confirms that this contract does not involve any related party transactions and represents an arm's length business engagement with an international entity.