Date: September 15, 2026
Transaction Update
This announcement serves as an intimation regarding the extension of expected completion dates for the sale of remaining six special purpose vehicles (SPVs) held by Ashoka Buildcon Limited and its material unlisted subsidiary Ashoka Concessions Limited (ACL).
Background
The transaction involves the sale of entire share capital (including repayment of any shareholder loans) and management control of 11 road project SPVs to Epic Concesiones 2 Private Limited, Infrastructure Yield Plus II and Infrastructure Yield Plus IIA (both schemes of Infrastructure Yield Trust and managed by EAAA India Alternatives Limited).
Current Status
- Five SPVs (serial numbers 1-5 from the original list) were successfully sold as per previous announcement on September 30, 2025
- Six SPVs remain to be sold: TS-1 (Ashoka Mallasandra Karadi Road Private Limited), TS-2 (Ashoka Karadi Banwara Road Private Limited), TS-3 (Ashoka Banwara Bettadahalli Road Private Limited), BS (Ashoka Baswantpur Singnodi Road Private Limited), BK (Ashoka Belgaum Khanapur Road Private Limited), and TS-4 (Ashoka Bettadahalli Shivamogga Road Private Limited)
- This represents the fourth extension announcement for these remaining assets, following previous updates on April 01, 2026, June 30, 2026, and July 31, 2026
Extension Details
The Company and the Proposed Investor have mutually agreed to extend the indicative timelines for completion:
- SPVs TS-1, TS-2, and TS-3 (where major construction works are complete): Extended completion date up to October 31, 2026
- Remaining SPVs (BS, BK, TS-4): Will follow thereafter in accordance with their respective Transaction Documents
Conditions
The final completion of the transaction for each SPV remains subject to:
- Fulfilment of conditions precedent outlined in respective transaction documents
- Obtaining necessary regulatory approvals
- Obtaining necessary lender approvals