Ashoka Buildcon shares rose over 3% in morning trade after the company announced that it has completed the sale of its entire shareholding in five highway SPVs to Maple Infrastructure Trust for a total consideration of ₹1,814.42 crore. The deal, which also includes repayment of shareholder loans, was executed through its material subsidiary Ashoka Concessions Ltd and marks a key step in the company’s portfolio monetisation strategy.
The five SPVs transferred to Maple Infrastructure Trust include Ashoka Highways (Bhandara), Ashoka Highways (Durg), Ashoka Belgaum Dharwad Tollway, Ashoka Sambalpur Baragarh Tollway and Ashoka Dhankuni Kharagpur Tollway. The company confirmed that the transaction was completed on 26 November 2025, in line with the agreement signed on 30 October 2024.
In its exchange filing, Ashoka Buildcon noted that the SPVs had a limited impact on FY25 consolidated numbers. Ashoka Highways (Bhandara) posted revenue of ₹127.49 crore, while Ashoka Dhankuni Kharagpur Tollway generated ₹542.39 crore, though several entities carried negative net worth. The buyer, Maple Infrastructure Trust, is a SEBI-registered InvIT listed on the BSE and has no relation to the promoter group of Ashoka Buildcon, ensuring the deal does not fall under related-party transactions.
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