Ashoka Buildcon Limited

Background and Transaction Details

The disclosure is a continuation of previous announcements, the first of which was made on December 31, 2024. That announcement informed of the execution of Share Purchase Agreements and other transaction documents between Ashoka Buildcon Limited, its material unlisted subsidiary Ashoka Concessions Limited (ACL), and the buyer consortium, Epic Concesiones 2 Private Limited, Infrastructure Yield Plus II, and Infrastructure Yield Plus IIA (managed by EAAA India Alternatives Limited), collectively referred to as the "Proposed Investor".

The transaction involves the sale of the entire share capital (including repayment of any shareholder loans) and management control of 11 specified SPVs held by the Company and/or ACL.

Previous Transaction Updates

The Company had previously announced on September 30, 2025, that the sale of the entire stake in the first five SPVs from the list had been completed. Further announcements were made on April 01, 2026, and June 30, 2026, regarding the expected date of completion for the sale of the remaining six SPVs.

Current Update: Extension of Timelines

The Company and the Proposed Investor have now mutually agreed to extend the indicative timelines for completing the sale of the remaining six (6) SPVs. The purpose of the extension is to allow for the individual completion of certain conditions precedent and other terms outlined in their respective transaction documents.

The new indicative dates for completion are as follows:

  • For SPVs TS-1 (Ashoka Mallasandra Karadi Road Private Limited), TS-2 (Ashoka Karadi Banwara Road Private Limited), and TS-3 (Ashoka Banwara Bettadahalli Road Private Limited), where major construction works are complete, the date is extended up to September 15, 2026.
  • For SPV BS (Ashoka Baswantpur Singnodi Road Private Limited), the date is extended up to September 30, 2026.
  • The completion for the other remaining SPVs (BK - Ashoka Belgaum Khanapur Road Private Limited and TS-4 - Ashoka Bettadahalli Shivamogga Road Private Limited) shall follow thereafter in accordance with their respective Transaction Documents.

Conditions Precedent

The final completion of the transaction for each SPV remains subject to the fulfilment of all conditions precedent and obtaining necessary regulatory and lender approvals.