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.

Ashoka Buildcon Limited has successfully completed the full redemption of its Non-Convertible Debentures (NCDs) Series III on April 23, 2026. The company informed BSE Limited and National Stock Exchange of India Limited about the completion of this scheduled debt redemption under Regulation 57 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Debenture Redemption Details

The company redeemed 10,000 rated, listed, senior, unsecured, redeemable Non-Convertible Debentures of Series III in full on the scheduled maturity date. Each debenture carried a face value of ₹1,00,000, with the total redemption amount aggregating to ₹100 crore.

Debenture Specifications

The NCDs were listed on the Wholesale Debt Segment of BSE Limited and carried the ISIN INE442H08032. The debentures were classified as senior, unsecured, redeemable instruments with a coupon rate of 8.75%. The ISIN description reads "ASHOKA BUILDCON LIMITED SR III TR 1 8.75 NCD 23AP26 FVRS1LAC".

Regulatory Compliance and Payment

The company completed both principal and interest payments to all debenture holders on the scheduled due date. The redemption was executed as per the original terms and conditions of the debenture issuance, demonstrating the company's commitment to honoring its debt obligations.

Company Secretary Manoj A. Kulkarni, with ICSI Membership No. FCS – 7377, signed the regulatory filing confirming the completion of the redemption process. The official communication was addressed to both BSE Limited and National Stock Exchange of India Limited, ensuring full regulatory compliance and transparency in the debt redemption process.