CCI Clears Strategic Stake Acquisition by Ashoka Group in Infrastructure Sector.

The Competition Commission of India (CCI) has approved a strategic acquisition involving the Ashoka Group, a major player in the infrastructure sector.

The transaction involves Ashoka Buildcon Limited (ABL) acquiring a 34% equity stake in Ashoka Concessions Limited (ACL) alongside certain convertible instruments by ABL and Viva Highways. In a parallel move, Viva Highways will take a 26% stake in Jaora Nayagaon Toll Road Company (JN).

Ashoka Buildcon, known for its engineering, procurement, and construction (EPC) expertise, operates road projects under EPC, Build-Operate-Transfer (BOT), and Hybrid Annuity Model (HAM) frameworks. Its subsidiary, ACL, consolidates BOT-based road and highway projects. Viva Highways’ acquisition of JN, a BOT concessionaire responsible for managing State Highway-31 in Madhya Pradesh, reinforces its presence in the toll-road sector.

The deal is expected to drive operational synergies and strengthen competitiveness in India’s road development and maintenance sector. Analysts view this move as part of a broader trend of consolidation and strategic realignment within the infrastructure industry, emphasizing efficiency and resource optimization.

The Commission’s detailed order, outlining any conditions attached to the approval, is awaited. Meanwhile, the Madhya Pradesh project highlights a continued focus on regional connectivity and infrastructure development in India.

HBL