Ashoka Buildcon Limited has announced an extension for the completion of the sale of six Special Purpose Vehicles (SPVs) to its proposed investor. The indicative date for the transaction’s closure, particularly for SPVs where major construction is complete, is now set for October 31, 2026. This extension, mutually agreed upon, allows for the fulfillment of certain conditions precedent and other contractual terms.
Sale of SPVs Extension Announced
Ashoka Buildcon Limited (ABL) has issued an update regarding the sale of its stake in various subsidiaries and Ashoka Concessions Limited (ACL). Following previous announcements on December 31, 2024, and September 30, 2025, concerning the sale of entire share capital and management control of these entities to Epic Concesiones 2 Private Limited, ABL has now mutually agreed with the proposed investor to extend the indicative timelines for the completion of the sale of the remaining six (6) SPVs.
Extended Completion Date
The extension is intended to facilitate the individual completion of certain conditions precedent and other terms outlined in the respective transaction documents. For the SPVs where major construction works are already complete, specifically identified as TS-1, TS-2, and TS-3, the indicative date for completion of the transaction has been extended to October 31, 2026. The completion for the remaining SPVs will follow thereafter, in accordance with their respective Transaction Documents.
The final completion of the transaction for each SPV remains contingent upon the fulfillment of all conditions precedent and the attainment of necessary regulatory and lender approvals. This announcement follows earlier intimations about the sale of the first five SPVs from the list and subsequent updates on the expected completion dates for the remaining assets.
Source: BSE
