Ashoka Buildcon Limited has informed the Exchange regarding sale/disposal of stake held in SPVs by the Company and Ashoka Concessions Limited
ASHOKA · price
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Awaiting price reaction for this filing.
Ashoka Buildcon and its subsidiary Ashoka Concessions have sold their entire 100% stake and management control in 5 road SPVs (HAM projects across Punjab, Andhra Pradesh, Gujarat, Jharkhand, and Telangana) to entities of Infrastructure Yield Trust, managed by EAAA India Alternatives. The deal was completed on September 29, 2025, at an aggregate consideration of Rs. 1,146 Crores (including some holdback amounts). The 5 sold SPVs together contributed about Rs. 409 Crores of turnover (~4% of company turnover) and around Rs. 962 Crores of net worth. The sale of 6 additional SPVs is still pending, subject to certain conditions. The buyer is not related to the promoters of Ashoka Buildcon, and the transaction is not a related-party deal.
This is a major asset monetisation move that should bring in substantial cash (Rs. 1,146 Crores) and likely strengthen the company's balance sheet, reducing its road-asset portfolio and possibly enabling focus on its construction/EPC business. Shareholders may view it positively as a value-unlocking exercise, though the long-term loss of annuity income from these operational toll roads is a trade-off. Completion of the remaining 6 SPV sales could trigger further positive announcements.