The key entities involved in the deal are:

Epic Concesiones 2 Pvt Ltd – Infrastructure investment company Ashoka Concessions Ltd – Developer of road infrastructure Ashoka Buildcon Ltd – Construction and engineering firm

EC2PL is engaged in owning and operating infrastructure projects. It is backed by Infrastructure Yield Plus II (IYP II) and Infrastructure Yield Plus IIA (IYP IIA), both investment schemes under Infrastructure Yield Trust, a registered Category I – Infrastructure Alternative Investment Fund under SEBI regulations. The fund is managed by EAAA India Alternatives Ltd (EIAL), an indirect wholly-owned subsidiary of EFSL, the parent entity of EC2PL.

The 11 Target SPVs, incorporated in India, operate roads and highways through government concessions. Their acquisition by EC2PL is expected to enhance infrastructure asset management, driving efficiency and long-term sustainability in India's road sector.

With this approval, CCI reinforces its role in facilitating strategic investments in the infrastructure domain, promoting competition while ensuring robust sectoral growth.