Ashoka Buildcon Sells 51% Stake in Renewable Energy Arm Prakashmaan

Ashoka Buildcon Limited, a major infrastructure firm based in India, has announced a significant strategic move involving its renewable energy portfolio. 

In an official disclosure to stock exchanges, the company confirmed the sale of a majority stake in its wholly owned subsidiary, Prakashmaan Renewable Energy Private Limited, marking a shift in ownership structure and business alignment.

Strategic Divestment for Operational Focus

On 8 April 2025, Ashoka Buildcon sold 2,550 equity shares, equivalent to a 51% stake in Prakashmaan Renewable Energy Private Limited, to Sunbreeze Renewables Private Limited. 

The total consideration for this transaction amounted to ₹1.98 crore. Following the sale, Ashoka Buildcon retains a 49% stake, resulting in Prakashmaan being reclassified as an associate company. This move is part of Ashoka’s broader restructuring plan aimed at refocusing its investments while still maintaining a stake in the renewable energy sector.

Sunbreeze Renewables, established in February 2022, is an independent entity not related to Ashoka’s promoter group. It operates across seven states in India and manages renewable energy assets with a combined capacity of over 3000 MW. Its services include solar park development, engineering, procurement, construction, and infrastructure integration.

Regulatory Compliance and Deal Structure

The transaction was carried out in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and accompanying circulars dated July 2023. The agreement for the sale was signed and executed on 8 April 2025, with the entire consideration duly received.

As Prakashmaan was incorporated recently on 24 September 2024, audited financial data for the entity is not yet available. The deal does not fall under the related party transaction category and is also not part of any scheme of arrangement or slump sale, further confirming its standalone commercial nature.

Ashoka Buildcon Share Performance 

As of April 09, 2025, at 9:30 AM, Ashoka Buildcon share price is trading at ₹184.32 per share, reflecting a decline of 1.68% from the previous day’s closing price.

Conclusion

Ashoka Buildcon’s partial exit from Prakashmaan Renewable Energy reflects its intent to streamline operations and focus on strategic partnerships. With a reputed buyer like Sunbreeze Renewables taking charge, the move indicates a calculated realignment of business interests while retaining future potential in the renewable sector.

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