Shares of Ashoka Buildcon Ltd rallied 5% on 27 November after the company announced that its subsidiary sold its whole stake in five Special Purpose Vehicles (SPVs) to Maple Infrastructure Trust and its nominees for Rs 1,814 crore. 

Ashoka Concessions Ltd, a substantial subsidiary of Ashoka Buildcon Ltd, has finalised the sale of its entire interest in five toll road special purpose vehicles (SPVs) to Maple Infrastructure Trust and its nominees, with the transaction taking effect on 26 November 2025. 

The deal, agreed under share purchase agreements and accompanying documentation, is valued at Rs 1,814.42 crore, subject to certain holdbacks, the business announced. The agreement also covers repayment of shareholder loans.

The SPVs transferred to Maple Infrastructure Trust are Ashoka Highways (Bhandara), Ashoka Highways (Durg), Ashoka Belgaum Dharwad Tollway, Ashoka Sambalpur Baragarh Tollway, and Ashoka Dhankuni Kharagpur Tollway. The business announced that the share purchase agreement for the transaction was signed on 30 October 2024. 

Maple Infrastructure Trust, a SEBI-registered infrastructure investment trust (InvIT) listed on the Bombay Stock Exchange, purchased the shares. The company confirmed that the customer is not an Ashoka Buildcon promoter or promoter group member.

In Q2, Ashoka Buildcon recorded a consolidated net profit of Rs 90.7 crore, down 80% from Rs 462.5 crore the previous year. The company’s operating revenue decreased by 26% to Rs 1,851.2 crore from Rs 2,488.9 crore.  

At 1:55 pm, the shares of Ashoka Buildcon were trading 2.05% higher at Rs 181.65 on NSE.

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