Ashoka Buildcon Limited (ABL) has partially completed the acquisition of Macquarie-SBI Infrastructure Fund’s stake in Ashoka Concessions Limited (ACL) for Rs 8.82 billion. In October 2024, Ashoka Buildcon entered into a share purchase agreement (SPA) to provide a full exit to the private equity fund in ACL.
The agreement was signed for the acquisition of a 34 per cent equity stake in ACL, along with 7.7 million Class A compulsorily convertible debentures (CCDs) and 20 million Class B CCDs for a total consideration of Rs 15.26 billion. Up until now, ABL has partially acquired 4.46 million Class A CCDs and 11.52 million Class B CCDs. Additionally, the company has decided to extend the long stop date to complete the acquisition to October 31, 2025.