Date: October 01, 2026
Transaction Background
This announcement is in continuation to previous disclosures made on:
- December 31, 2024: Initial announcement of Share Purchase Agreements and transaction documents with Epic Concesiones 2 Private Limited, Infrastructure Yield Plus II, and Infrastructure Yield Plus IIA (managed by EAAA India Alternatives Limited) for sale of entire share capital and management control of 11 SPVs
- September 30, 2025: Completion of sale of SPVs 1-5 from the list
- April 01, 2026 and June 30, 2026: Previous announcements regarding expected completion dates for remaining 6 SPVs
SPVs Involved in Original Transaction
The original transaction covered 11 special purpose vehicles:
1. Ashoka Kharar Ludhiana Road Limited
2. Ashoka Khairatunda Barwa Adda Road Limited
3. Ashoka Ranastalam Anandapuram Road Limited
4. Ashoka Ankleshwar Manubar Expressway Private Limited
5. Ashoka Kandi Ramsanpalle Road Private Limited
6. Ashoka Mallasandra Karadi Road Private Limited (TS-1)
7. Ashoka Karadi Banwara Road Private Limited (TS-2)
8. Ashoka Banwara Bettadahalli Road Private Limited (TS-3)
9. Ashoka Baswantpur Singnodi Road Private Limited (BS)
10. Ashoka Belgaum Khanapur Road Private Limited (BK)
11. Ashoka Bettadahalli Shivamogga Road Private Limited (TS-4)
Current Update
The Company and the Proposed Investor have mutually agreed to extend the indicative timelines for completion of the sale of specifically Ashoka Baswantpur Singnodi Road Private Limited (BS). The extension will allow for individual completion of certain conditions precedent and other terms outlined in the transaction documents for BS.
New Timeline
The indicative date for completion of the transaction for BS is extended up to October 31, 2026.
Conditions Pending
The final completion of the transaction for each SPV remains subject to:
- Fulfilment of conditions precedent
- Necessary regulatory approvals
- Lender approvals