Ashoka Buildcon Limited has announced the sale of its entire stake in 11 special purpose vehicles (SPVs) to Epic Concesiones 2 Private Limited, backed by Infrastructure Yield Trust. The transaction, valued at ₹2,324 crore, includes repayment or transfer of all shareholder loans and management control of the SPVs.
Key Highlights:
- SPVs Involved: Ashoka Kharar Ludhiana Road Limited, Ashoka Bettadahalli Shivamogga Road Private Limited, and Ashoka Ranastalam Anandapuram Road Limited, among others.
- Buyers: Epic Concesiones 2 Private Limited, managed by EAAA India Alternatives Limited.
- Consideration: Aggregate sale value subject to adjustments for cash and debt-like items.
- Purpose: Monetization of completed road assets to generate significant liquidity for future infrastructure projects.
Completion Timeline:
The sale process is subject to approvals from the National Highways Authority of India (NHAI), lenders, and the Competition Commission of India (CCI). SPVs with completed construction are expected to be disposed of by September 2025.
This strategic move aligns with Ashoka Buildcon’s long-term vision of recycling capital to bolster growth in the infrastructure sector.
TOPICS:
Ashoka Buildcon