Ashoka Buildcon updates on Macquarie SBI exit deal; parties in discussions to extend agreement
The company stated that it is currently in discussions with the investors to continue with the agreed arrangements as outlined in the Securities Purchase Agreement (SPA) dated October 30, 2024. This agreement involves Ashoka Buildcon and its subsidiaries—Viva Highways Limited (VHL), Ashoka Concessions Limited (ACL), and Jarora Nayagaon Toll Road Company Private Limited (JNPL)—purchasing the investors' stake in ACL and JNPL, facilitating a complete exit for the investors.
As per the original SPA terms, the long-stop date for completion of the investor exit was set for June 30, 2025. With that date now passed, the parties are working towards executing the necessary documents to continue with the transaction as per the agreed terms.
Ashoka Buildcon informed exchanges that further updates will be provided in due course.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
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