CCI Approves IRB InvIT Fund’s Acquisition of Three Tollway SPVs

The Competition Commission of India (CCI) has approved the proposed combination involving the acquisition of IRB Hapur Moradabad Tollway Limited, Kaithal Tollway Limited, and Kishangarh Gulabpura Tollway Limited by IRB InvIT Fund, along with the acquisition of units of IRB InvIT Fund by Anahera Investment Pte. Ltd.

IRB InvIT Fund, India’s first publicly listed infrastructure investment trust under SEBI’s InvIT regulations, will add three special purpose vehicles (SPVs) to its portfolio: IRBHM, managing the Hapur–Moradabad stretch of NH-24 in Uttar Pradesh; KTL, overseeing the Kaithal–Rajasthan border section of NH-152/65 in Haryana; and KGTL, responsible for the six-laning of the 90 km Kishangarh–Gulabpura section of NH-79/79A in Rajasthan.