Ashoka Buildcon shares jump 5% as unit sells five SPVs for ₹1,814-crore

Ashoka Buildcon shares rise 5 per cent after its subsidiary sold five SPVs to Maple Infrastructure Trust for ₹1,814 crore

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Shares of Ashoka Buildcon Ltd rallied over 5 per cent on Thursday after its subsidiary sold its entire shareholding in five Special Purpose Vehicles (SPVs) to Maple Infrastructure Trust and its nominees for ₹1,814 crore. 

 

The civil construction major's stock rose as much as 5.2 per cent during the day to ₹187.4 per share, the biggest intraday rise since October 31 this year. The Ashoka Buildcon stock pared gains to trade 2.5 per cent higher at ₹181.96 apiece, compared to a 0.23 per cent advance in Nifty 50 as of 11:46 AM. 

 

Shares of the company rose for the third straight session and currently trade at 3.1 times the average 30-day trading volume, according to Bloomberg. The counter has fallen 41 per cent this year, compared to an 11.7 per cent advance in the benchmark Nifty 50. Ashoka Buildcon has a total market capitalisation of ₹5,109.16 crore.   FOLLOW LATEST STOCK MARET UPDATES TODAY LIVE

Ashoka Buildcon sells five SPVs to Maple InvIT

Ashoka Concessions Ltd., a material subsidiary of Ashoka Buildcon Ltd., has completed the sale of its entire shareholding in five of its toll road special purpose vehicles (SPVs) to Maple Infrastructure Trust and its nominees, effective November 26, 2025. 

 

The transaction, executed under a set of share purchase agreements and related documents, is valued at ₹1,814.42 crore, subject to certain holdbacks, the company said. The deal also includes the 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 share purchase agreement for the transaction was signed on October 30, 2024, the company said. 

 

The buyer, Maple Infrastructure Trust, is a SEBI-registered infrastructure investment trust (InvIT) listed on the Bombay Stock Exchange. The company confirmed that the buyer does not belong to Ashoka Buildcon’s promoter or promoter group.  ALSO READ | Sensex, Nifty hit record highs: Analysts pick sectors to invest in markets

Ashoka Buildcon Q2 results

In Q2, Ashoka Buildcon reported a consolidated net profit of ₹90.7 crore, as compared to ₹462.5 crore a year ago, down 80 per cent. Its revenue from operations stood at ₹1,851.2 crore, as compared to ₹2,488.9 crore, down 26 per cent. Its Earnings before interest, tax, depreciation and amortisation (Ebitda) stood at ₹641.6 crore, as against ₹945.2 crore year-on-year (Y-o-Y).

 

As on September 30, 2025, the total borrowings less cash & bank balance and investments, was ₹246.6 crore, representing a net debt to equity ratio of 0.06 (Out of which, debt worth $ 69.0 Mn is foreign currency denominated).