Ashoka Buildcon Limited has informed the Exchange about Intimation to Stock Exchanges under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
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Ashoka Buildcon has informed the stock exchanges that the Securities Purchase Agreement (SPA) signed on October 30, 2024 with Macquarie SBI Infrastructure Investments and SBI Macquarie Infrastructure Trust has not been completed by the original long stop date of June 30, 2025. The SPA was aimed at buying back the securities held by these investors in two subsidiaries — Ashoka Concessions Limited (ACL) and Jarora Nayagaon Toll Road Company Private Limited (JNPL) — thereby giving the investors a full exit. The company and the investors are now in discussions to continue with the agreed arrangements and execute the necessary documents to close the transaction. No new completion timeline has been announced.
The deal to buy out Macquarie SBI's stake in two road-toll subsidiaries is delayed past its June 30, 2025 deadline. While both sides still intend to proceed, the lack of a confirmed new closing date creates uncertainty around the company's restructuring plans and may affect near-term stock sentiment.