Sale of Baswantpur Singnodi Road SPV: completion date extended to October 31, 2026

Ashoka Buildcon and the proposed investor have mutually agreed to extend the indicative date for completing the sale of subsidiary Ashoka Baswantpur Singnodi Road Private Limited (BS).

Thu 1 Oct 2026

Extended completion date

extended up to October 31, 2026

Original deal date

December 31, 2024

SPVs covered in deal

11 road SPVs

SPV in this update

Ashoka Baswantpur Singnodi Road Private Limited (BS)

Completion condition

subject to conditions precedent and regulatory and lender approvals

Ashoka Buildcon has told the exchanges that the timeline for completing the sale of one of its road subsidiaries has been pushed out.

What this transaction is

• The company and Ashoka Concessions Limited (ACL), a material unlisted subsidiary, entered into Share Purchase Agreements and other transaction documents on December 31, 2024.
• The buyer side, called the Proposed Investor in the update, is Epic Concesiones 2 Private Limited and Infrastructure Yield Plus II and Infrastructure Yield Plus IIA, both schemes of Infrastructure Yield Trust, managed by their investment manager EAAA India Alternatives Limited (formerly known as Edelweiss Alternative Asset Advisors Limited).
• The transaction covers sale of the entire share capital, including repayment of any shareholder loans, and management control of the SPVs held by the company and/or ACL.

The 11 SPVs named

• Ashoka Kharar Ludhiana Road Limited
• Ashoka Khairatunda Barwa Adda Road Limited
• Ashoka Ranastalam Anandapuram Road Limited
• Ashoka Ankleshwar Manubar Expressway Private Limited
• Ashoka Kandi Ramsanpalle Road Private Limited
• Ashoka Mallasandra Karadi Road Private Limited (TS-1)
• Ashoka Karadi Banwara Road Private Limited (TS-2)
• Ashoka Banwara Bettadahalli Road Private Limited (TS-3)
• Ashoka Baswantpur Singnodi Road Private Limited (BS)
• Ashoka Belgaum Khanapur Road Private Limited (BK)
• Ashoka Bettadahalli Shivamogga Road Private Limited (TS-4)

Where the process stands

• The update is a continuation of the December 31, 2024 announcement, and of the September 30, 2025 announcement about the sale of the entire stake held in SPVs at serial no. 1 to 5.
• Further announcements on April 01, 2026 and June 30, 2026 tracked the expected date of completion of the sale of the remaining 6 SPVs.

What is new

• The company and the Proposed Investor have mutually agreed to extend the indicative timelines for completion of the sale of Ashoka Baswantpur Singnodi Road Private Limited (BS).
• The update states the extension will allow for the individual completion of certain conditions precedent and other terms outlined in the transaction documents of BS.
• The indicative date for completion of this transaction is extended up to October 31, 2026.

What still applies

• Final completion of the transaction for each SPV remains subject to the fulfilment of conditions precedent and necessary regulatory and lender approvals.

How to read it

• This is a timeline update on a sale that was already agreed; the agreement itself is unchanged, and the extension applies specifically to the BS SPV.
• Because completion is conditional on conditions precedent and approvals, the timing of the BS sale depends on those steps being completed.

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