Ashoka Buildcon Limited has informed stock exchanges about extending the expected completion date for the sale of its remaining subsidiaries to June 30, 2026. The company filed this intimation on April 01, 2026, updating investors on the progress of a major divestment transaction.

Transaction Background

The infrastructure company had originally announced on December 31, 2024, that it entered into Share Purchase Agreements with Epic Concesiones 2 Private Limited, Infrastructure Yield Plus II, and Infrastructure Yield Plus IIA for the sale of 11 Special Purpose Vehicles (SPVs). These buyers are schemes of Infrastructure Yield Trust, managed by EAAA India Alternatives Limited.

The transaction involves the sale of entire share capital, including repayment of shareholder loans and management control of the SPVs held by the company and its material unlisted subsidiary, Ashoka Concessions Limited (ACL).

SPVs Transaction Status

The complete list of subsidiaries under the sale agreement shows clear progress with five SPVs already completed:

Updated Timeline and Completion Strategy

The company had previously completed the sale of five SPVs in September 2025. For the remaining six subsidiaries, the completion timeline has been extended following mutual agreement with the proposed investors. The new indicative completion date is June 30, 2026, specifically for SPVs where construction works are complete, while others will follow thereafter according to their respective transaction documents.

Regulatory Compliance

The intimation was filed under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary Manoj A. Kulkarni signed the disclosure document, ensuring compliance with stock exchange notification requirements for both BSE Limited and National Stock Exchange of India Limited.

The completion of these transactions remains subject to fulfillment of certain conditions precedent and other terms specified in the respective transaction documents for each SPV.

Ashoka buildcon Limited has received an allotment of 66,50,000 equity shares worth ₹6.65 crore from its wholly owned subsidiary Ashoka Infrastructure Limited (AIL) through a rights issue completed on March 30, 2026. The transaction was approved at AIL's meeting held on the same date.

Share Allotment Details

The rights issue involved the allotment of equity shares at ₹10 each, with the total consideration amounting to ₹6.65 crore paid in cash. Following this allotment, Ashoka Buildcon now holds 3,30,50,000 equity shares of ₹10 each, fully paid-up in AIL.

Subsidiary Financial Performance

Ashoka Infrastructure Limited, incorporated on July 11, 2002, operates in the infrastructure sector and continues to remain a wholly owned subsidiary of the company post-allotment. The subsidiary's recent financial performance shows varied results across the last three fiscal years.

Business Objectives and Strategic Alignment

AIL's main business objects include building and operating infrastructure projects on Build-Operate-Transfer (BOT), Build-Own-Lease-Transfer (BOLT), and Build-Own-Operate-Transfer (BOOT) basis. The subsidiary focuses on:

• Construction and operation of roadways, bridges, dams, docks, harbours, and canals
• Acting as promoters, land developers, and construction contractors
• Undertaking infrastructure projects for government, semi-government, and corporate entities
• Building and maintaining residential and commercial properties

The company noted that as a pioneer infrastructure development company in road and power sectors, AIL's infrastructure focus aligns with and adds value to Ashoka Buildcon's main business operations. The parent company currently operates as one of the largest road developer companies in India.

Regulatory Compliance

The transaction was disclosed pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. As AIL is a wholly owned subsidiary, the transaction falls under related party transactions, though promoter and group companies do not have any separate interest in AIL beyond the parent company's ownership. No additional governmental or regulatory approvals were required for this share allotment.