Ashoka Buildcon has extended the expected date of completion for the sale of stakes in six subsidiaries to July-September 2026. The company, along with its material unlisted subsidiary Ashoka Concessions Limited (ACL), had entered into agreements with Epic Concesiones 2 Private Limited and schemes of Infrastructure Yield Trust to sell the entire share capital and management control of 11 Special Purpose Vehicles (SPVs). The extension impacts the timeline for the remaining six SPVs where major construction works are complete or ongoing.

The transaction involves the sale of stakes in subsidiaries including Ashoka Karadi Banwara Road Private Limited, Ashoka Mallasandra Karadi Road Private Limited, and Ashoka Banwara Bettadahalli Road Private Limited. The indicative date for completion for SPVs where major construction works are complete—specifically TS-1, TS-2, and TS-3—is extended up to July 31, 2026. For the BS SPV, the date is extended up to September 30, 2026. The remaining SPVs will follow thereafter in accordance with respective transaction documents.

The final completion of the transaction for each SPV remains subject to the fulfilment of conditions precedent and necessary regulatory and lender approvals. The company had previously announced the sale of stakes in five other SPVs from serial 1 to 5 in the list. The current extension specifically addresses the timeline for the disposal of the remaining six entities.

Subsidiaries and Timelines

The following table outlines the revised indicative completion dates for the sale of stakes in the specified SPVs:

The proposed investor includes Infrastructure Yield Plus II and Infrastructure Yield Plus IIA, both schemes managed by EAAA India Alternatives Limited. The transaction is structured to include the repayment of any shareholder loans associated with the SPVs. The company stated that the extension is necessary to complete certain conditions precedent and other terms outlined in the transaction documents.

Ashoka Buildcon Limited has secured an international order worth GYD$ 7,455,455,867 ($35.42 Million USD) from the Central Housing and Planning Authority, Guyana. The project involves the construction of a four-lane highway from Versailles, West Bank Demerara to Parika, East Bank Essequibo, Region No. 3. This contract expands the company's footprint in the overseas infrastructure segment.

The Letter of Acceptance was issued pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The specific scope of work covers Lot 8 of the project, which will be executed on an item rate basis. The entire construction work is to be completed within a period of 20 months from the commencement date.

Project Details

The following table outlines the key particulars of the order received by Ashoka Buildcon Limited:

The disclosure confirms that the promoter, promoter group, or group companies do not hold any interest in the entity awarding the contract. Furthermore, the transaction does not fall under Related Party Transactions. The trading window for designated persons of the company and their immediate relatives will remain closed until 48 hours after the declaration of this information.