Ashoka Buildcon Limited has informed the Exchange that pursuant to necessary approvals, the existing Class A CCDs are varied and converted to equivalent number of Class A OCDs effective March 13, 2026 by Ashoka Concessions Limited.
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Ashoka Buildcon Limited and its wholly owned subsidiary Viva Highways Limited are converting their Class A Compulsorily Convertible Debentures (CCDs) in Ashoka Concessions Limited (ACL) into Class A Optionally Convertible Debentures (OCDs) on a 1:1 basis. This covers 49,81,119 CCDs held by Ashoka Buildcon and 27,60,121 CCDs held by Viva Highways, totaling 77,41,250 instruments, effective March 13, 2026. The rationale cited is evolving business needs, limiting further equity exposure, protecting capital, avoiding dilution, and gaining operational flexibility. No change in equity shareholding of the company or ACL is involved, and promoters receive no benefit from this variation.
This is a structural reshuffle within the group that converts a mandatory equity-linked instrument into an optional one, protecting the company from forced dilution in ACL. For shareholders, this signals a more conservative capital approach at the subsidiary level without any immediate change in ownership or earnings.