Ashoka Buildcon partially acquires Ashoka Concessions debentures for 8.82bn rupees

Ashoka Buildcon Limited (ABL) today announced the partial acquisition of convertible debentures in its subsidiary, Ashoka Concessions Limited (ACL), from Macquarie SBI Infrastructure Investments Pte Limited and SBI Macquarie Infrastructure Trust (collectively, the “Investors”). This transaction is a continuation of a Securities Purchase Agreement dated October 30, 2024, designed to provide a full exit for the Investors from ACL and Jaora-Nayagaon Toll Road Company Private Limited.

ABL acquired 4,457,848 Class A Compulsorily Convertible Debentures (CCDs) at 1007.15 rupees per CCD and 11,517,129 Class B CCDs at 10 rupees per CCD, totaling 8,822,548,749 rupees. This represents a partial acquisition of the securities held by the Investors in ACL, an entity with a total income of 151.16 crore rupees and a net worth of 990.70 crore rupees as of FY 2025. The long stop date for the transaction has been extended to October 31, 2025, or a mutually agreed later date, pending the acquisition of the remaining CCDs and monetization of project assets.