Introduction:
Major infrastructure firm has announced the sale of stakes in 11 road project SPVs for ₹2,324 crore. This move involves loan repayments, management transfer, and aligns with its strategy to monetize assets and drive growth in infrastructure.
Also Read: Infra stock jumps 4% after it receives orders worth ₹1,073 Cr
Share price movement of Ashoka Buildcon:
On December 31, 2024, Ashoka Buildcon Ltd. opened at ₹314.35, up 0.29% from its previous close of ₹313.45. The stock reached a high of ₹319.00 (1.77%) and a low of ₹308.05. By 10:00 AM, it traded at ₹311.55, a 0.61% decline, with a market cap of ₹8,744.53 crore.
Ashoka Buildcon Sells Stake in SPVs for ₹2,324 Crore:
Ashoka Buildcon Limited and its subsidiary, Ashoka Concessions Limited, have announced the sale of their stake in 11 Special Purpose Vehicles (SPVs) for ₹2,324 crore. This transaction includes repayment of shareholder loans and transfer of management control.
The 11 SPVs included in the transaction by Ashoka Buildcon Limited and Ashoka Concessions Limited are:
- Ashoka Kharar Ludhiana Road Limited
- Ashoka Khairatunda Barwa Adda Road Limited
- Ashoka Ranastalam Anandapuram Road Limited
- Ashoka Ankleshwar Manubar Expressway Private Limited
- Ashoka Mallasandra Karadi Road Private Limited
- Ashoka Bettadahalli Shivamogga Road Private Limited
- Ashoka Karadi Banwara Road Private Limited
- Ashoka Belgaum Khanapur Road Private Limited
- Ashoka Banwara Bettadahalli Road Private Limited
- Ashoka Kandi Ramsanpalle Road Private Limited
- Ashoka Baswantpur Singnodi Road Private Limited
The agreement is executed with Epic Concesiones 2 Private Limited and schemes managed by EAAA India Alternatives Limited. The SPVs cover critical road projects, subject to approvals from lenders, NHAI, and the Competition Commission of India, ensuring smooth closure.
This strategic move aligns with Ashoka Buildcon’s focus on monetizing assets and optimizing operations. The sale underscores its commitment to unlocking value and fostering growth, marking a significant milestone in India’s infrastructure development landscape.
Recent news on Ashoka Buildcon:
As of December 23, 2024, Ashoka Buildcon Ltd signed an agreement to invest ₹9,000 crore in Bihar. The funds will establish a 1,250 MW solar project and a green hydrogen plant in Begusarai, aiming to produce clean energy and drive sustainability.
Stock performance of Ashoka Buildcon for Period of 1 week, 6 months and 1 year:
Ashoka Buildcon Ltd. has demonstrated strong performance with a 10.7% return over the past week, 34.6% over six months, and an impressive 129% return over the past year, reflecting robust growth and market confidence.
Also Read: Stock jumps 9.2% after company to move from SME PLATFORM to main board of BSE and NSE
Shareholding pattern of Ashoka Buildcon:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 54.50% | 54.50% | 54.50% |
| FII | 8.00% | 7.60% | 7.20% |
| DII | 17.80% | 19.30% | 17.60% |
| Public | 19.80% | 18.60% | 20.70% |
About Ashoka Buildcon:
Ashoka Buildcon Ltd (NSE: ASHOKA) is a leading infrastructure company engaged in EPC and BOT-based projects, along with ready-mix concrete sales. It also promotes SPVs, earning toll collection rights for its construction projects.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
