01-07-2025
Ashoka Buildcon updates on Macquarie SBI exit deal; parties in discussions to extend agreement
Ashoka Buildcon Limited has provided an update on its previously announced transaction with Macquarie SBI Infrastructure Investments Pte Limited and SBI Macquarie Infrastructure Trust.
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.
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