Ashoka Buildcon to Fully Acquire Ashoka Concessions

The Competition Commission of India (CCI) has approved Ashoka Buildcon's plan to acquire the remaining 34% equity stake in Ashoka Concessions Ltd (ACL). This acquisition will make ACL a wholly-owned subsidiary of Ashoka Buildcon, which already holds a 66% stake.

The transaction includes the purchase of the remaining equity shares of ACL and convertible instruments by Ashoka Buildcon and its subsidiary, Viva Highways. Additionally, Viva Highways will acquire a 26% equity stake in Jaora Nayagaon Toll Road Company (JN) for ₹1.5 billion.

This move strengthens Ashoka Buildcon's position in the infrastructure sector and expands its portfolio in toll road projects.