Ashoka Buildcon Limited — Important, 30-10-2024: General Updates

Ashoka Buildcon Limited will sell its entire stake in five subsidiaries to Indian Highway Concessions Trust for up to INR 2,539 Crore, which may include adjustments for cash and debt. The transaction, dependent on approvals from lenders, NHAI, and CCI, is expected to close by March 31, 2025. The subsidiaries contributed a small percentage to overall revenue, with details outlined in the announcement. The buyer is not affiliated with Ashoka Buildcon's promoters.