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CCI approves acquisition of equity share capital of IRB Infrastructure by Bricklayers Investment

22 Dec 2021 Evaluate

The Competition Commission of India (CCI) has approved acquisition up to 16.94% equity share capital of IRB Infrastructure Developers (IRB / Target) by Bricklayers Investment (GIC Investor /Acquirer) under Section 31(1) of the Competition Act, 2002.

The proposed combination relates to GIC Investor's proposed acquisition of up to 16.94% of the share capital of Target on a fully diluted basis and non-fully diluted basis, through the subscription of new shares issued by way of a preferential issue on private placement.

IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several special purpose vehicles.

Peers
Company Name CMP
Larsen & Toubro 3699.00
Kalpataru Projects 1456.60
NCC 126.90
Rail Vikas Nigam 196.00
KEC International 362.35
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