Ashoka Buildcon Gains Full Control of Ashoka Concessions

The Competition Commission of India has approved Ashoka Buildcon's acquisition of the remaining 34% stake in Ashoka Concessions Ltd. Ashoka Buildcon, already holding 66%, will make it a wholly-owned subsidiary. The move involves equity shares and convertible instruments, including a 26% stake in the Jaora Nayagaon Toll Road Company.

The Competition Commission of India (CCI) has greenlit Ashoka Buildcon's acquisition of an additional 34% stake in Ashoka Concessions Ltd., making it a wholly-owned subsidiary. Previously, Ashoka Buildcon held 66% of Ashoka Concessions.

This acquisition, involving equity shares and convertible instruments, includes an arrangement between Ashoka Buildcon and its subsidiaries, particularly Viva Highways, which will gain a 26% stake in Jaora Nayagaon Toll Road Company.

Ashoka Buildcon, a prominent player in engineering, procurement, and construction, operates road assets through several business models, including EPC, BOT, and HAM. The firm aims to consolidate its BOT-based projects under Ashoka Concessions.

(With inputs from agencies.)