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CCI Approves Acquisition of 34% Shareholding in Ashoka Concessions by Ashoka Buildcon.

Economy Business | Dated: 17 Jan 2025

In January 2025, the Competition Commission of India (CCI) approved the proposed acquisition of a 34% shareholding in Ashoka Concessions Limited (ACL) by Ashoka Buildcon Limited (ABL). ACL, the infrastructure arm of the Ashoka Group, will become a wholly-owned subsidiary of ABL, which already holds 66% of ACL's shares.

🎯 Key Highlights:

  • - ABL is primarily engaged in engineering, procurement, and construction (EPC) across various sectors, as well as operation and maintenance (O&M).

💡 Other Important Facts:

  • (i) CCI has also granted approval for ABL and Nashik-based Viva Highways Limited (Viva), a subsidiary of ABL, to acquire certain convertible instruments of ACL.
  • (ii) Viva will also acquire a 26% shareholding in Jaora Naygaon Toll Road Company Limited (JTCL), a Build Operate and Transfer (BOT) concessionaire, valued at Rs 150 crore.
  • (iii) Madhya Pradesh Road Development Corporation Limited (MPRDC) has awarded a concession to JTCL for the reconstruction, strengthening, widening, and rehabilitation of a 125-kilometer stretch of State Highway (SH)-31, extending to 250 kilometers, in Madhya Pradesh (MP).

📚 Test Your Knowledge:

Who approved the acquisition of 34% shareholding in Ashoka Concessions by Ashoka Buildcon?

Correct Answer: CCI

🚀 Quick Recap:

About CCI

  • Chairperson : Inder Pal Singh Bindra
  • Headquarters : New Delhi