CCI Approves Ashoka Buildcon's Stake Acquisition in Ashoka Concessions

16 Jan 2025 CW Team

The Competition Commission of India (CCI) has approved Ashoka Buildcon's proposal to acquire the remaining 34% equity stake in Ashoka Concessions Ltd (ACL). With this approval, Ashoka Concessions will become a wholly-owned subsidiary of Ashoka Buildcon, which currently holds a 66% stake in the company. The transaction involves Ashoka Buildcon acquiring the remaining equity shares of ACL and certain convertible instruments of ACL by Ashoka Buildcon and its subsidiary, Viva Highways. In addition, Viva Highways will acquire a 26% equity stake in Jaora Nayagaon Toll Road Company (JN) for Rs 1.5 billion. Ashoka Buildcon specialises in engineering, procurement, and construction (EPC) across multiple sectors and operates road assets through EPC, Build Operate and Transfer (BOT), and Hybrid Annuity Model (HAM) frameworks. ACL, as the infrastructure arm of the Ashoka Group, manages road and highway operations through subsidiaries under BOT arrangements. The acquisition aligns with Ashoka Buildcon's October 2024 announcement to purchase 100% of ACL's investments for approximately Rs 15.26 billion. A share purchase agreement was also signed with Macquarie SBI Infrastructure Investments and SBI Macquarie Infrastructure Trust to acquire their 34% equity shares in ACL. The CCI's approval ensures compliance with regulatory thresholds while promoting fair competition in the market. (ET)

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..