CCI approves Shram InvIT’s acquisition of 10 road projects from Dilip Buildcon

The Competition Commission of India (CCI) has approved the acquisition of equity in 10 road infrastructure projects (Target SPV) from Shrem InvIT’s Dilip Buildcon Limited (DBL) and its affiliates, including acquisition of 100% equity in Target SPV .

It entails the issuance of certain units of Shrem InvIT to DBL and its affiliates as a consideration for acquisition. However, the deal value of the proposed combination was not disclosed.

Shrem InvIT is a Trust, registered under the Indian Trusts Act, 1882 and established with SEBI under the InvIT Regulations, 2014, with the objective of carrying on the activity of an Infrastructure Investment Trust.

Lakshya SPV is undertaking road projects in Karnataka, Jharkhand, Andhra Pradesh, Maharashtra, Odisha, Madhya Pradesh and Chhattisgarh. They have been included for the purpose of development of specific road projects.

DBL is engaged in the business of construction, operation and maintenance of roads and highways. DBL, as an EPC contractor, procures road projects through the government’s competitive bidding process.

Published on

12 July 2022