Ashoka Buildcon Limited has secured a Letter of Acceptance (LOA) from Chhattisgarh State Industrial Development Corporation Limited (CSIDC) for the development of a Gems & Jewellery Park in Raipur. The project, awarded under the Public Private Partnership (PPP) mode, involves a one-time premium payment of ₹112.40 crore. This order expands the company's infrastructure portfolio in the state of Chhattisgarh.

The company submitted the bid as a Joint Venture, acting as the lead member with a 51% stake. The project scope encompasses development on a land area of 38,922 sq. mtrs, with a construction period of 5 years. The agreement stipulates a lease period of 30 years, extendable up to 90 years.

Financial Terms and Conditions

The financial structure of the agreement includes the one-time premium payment alongside a recurring lease rent fixed at 2% of the premium amount, with an escalation clause of 10% every fourth year. The designated trading window for the company's insiders and their immediate relatives will remain closed until 48 hours after the declaration of this information.

Project Details

The disclosure was made to the exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that the order does not fall within Related Party Transactions and that the promoter group has no interest in the entity awarding the contract.

Ashoka Buildcon Limited announced that its subsidiary, Ashoka Purestudy Technologies Private Limited (APTPL), ceased to be a subsidiary effective June 12, 2026, following a preferential allotment of equity shares to a third-party investor. The company's stake in APTPL diluted from 59% to 39.33% due to the issuance of 29,879 fully paid-up equity shares of ₹10 each at ₹10 per share. This reduction in shareholding resulted in APTPL being reclassified as an associate company, impacting the consolidation of its financial statements under applicable Ind AS standards.

The preferential allotment was undertaken by APTPL to raise growth capital for business operations, expansion plans, and general corporate purposes. The transaction involved an independent third-party investor who is not related to the company, its promoters, or promoter group entities. Consequently, no special benefits accrue to the promoters or group companies as a result of this restructuring.

Change in Shareholding Pattern

The restructuring altered the ownership structure of APTPL while leaving the shareholding pattern of Ashoka Buildcon unchanged. The details of the shift are outlined below:

Following the transaction, the financial statements of APTPL will no longer be consolidated with those of Ashoka Buildcon. Instead, the investment will be accounted for as an investment in an associate company in accordance with applicable accounting and regulatory requirements. The disclosure was made to the BSE Limited and National Stock Exchange of India Limited under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.