Ashoka Buildcon divests five SPVs for ₹1,146 crore

Ashoka Buildcon Limited and its material subsidiary, Ashoka Concessions Limited, have completed the sale of their full 100% stake in five special purpose vehicles (SPVs), including Ashoka Kharar Ludhiana Road Limited and Ashoka Ranastalam Anandapuram Road Limited. The transactions, executed at an aggregate consideration of ₹1,146 crore, including holdbacks, involved the sale of shares, securities, and management control.

The buyers are Epic Concesiones 2 Private Limited, wholly owned by Infrastructure Yield Plus II, Infrastructure Yield Plus IIA, and India Infrastructure Yield Plus II, all schemes of Infrastructure Yield Trust managed by EAAA India Alternatives Limited. These transactions are not considered related party transactions.

Additionally, the company announced the impending sale of a balance of six SPVs, with completion subject to various conditions precedent.