Ashoka Buildcon Limited has informed the Exchange about General Updates
ASHOKA · price
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Ashoka Buildcon has informed exchanges that the deadline to complete the sale of five toll-road subsidiaries held through its material unlisted subsidiary Ashoka Concessions Limited (ACL) to Maple Infrastructure Trust (formerly Indian Highway Concessions Trust) has been pushed further. The original target date of March 31, 2025 was earlier extended to June 30, 2025, and is now extended to September 30, 2025 because some conditions precedent are still being completed. The five subsidiaries being sold are Ashoka Highways (Bhandara), Ashoka Highways (Durg), Ashoka Belgaum Dharwad Tollway, Ashoka Sambalpur Baragarh Tollway, and Ashoka Dhankuni Kharagpur Tollway. The deal involves sale of the entire share capital along with repayment of shareholder loans.
The transaction itself is positive as it allows Ashoka Buildcon to monetise its road assets and reduce debt, but the repeated delay in closing may create short-term uncertainty for investors awaiting the cash inflow.