Indus Infra Trust Gains CCI Nod for KNR SPVs Acquisition
The Competition Commission of India (CCI) has given the green light for Indus Infra Trust to acquire a complete 100% equity shareholding in KNR special purpose vehicles (SPVs) from KNR Constructions Ltd. This strategic move is aimed at bolstering infrastructure development projects across India.
The deal encompasses the acquisition of the entire equity in four KNR SPVs: KNR Palani Infra Private Limited (KPIPL), KNR Ramanattukara Infra Private Limited (KRIPL), KNR Guruvayur Infra Private Limited (KGIPL), and KNR Ramagiri Infra Private Limited (KRAIPL). Indus Infra Trust is the acquiring entity, executing this transaction through its investment manager, GR Highways Investment Manager Private Limited (GRHIMPL).
Indus Infra Trust operates as an irrevocable trust established under the Indian Trusts Act of 1882 and is recognized as an infrastructure investment trust (InvIT) by the Securities Exchange Board of India (SEBI). It complies with the SEBI (Infrastructure Investment Trusts) Regulations of 2014, which have been updated periodically with additional guidelines and notifications.
Role of KNR SPVs
The KNR SPVs were formed specifically to engage in infrastructure projects. They hold concession agreements with the National Highway Authority of India (NHAI) for the development, construction, operation, and maintenance of infrastructure projects, primarily under the Hybrid Annuity Model (HAM).
KNR Constructions, known for its multifaceted approach to infrastructure development, offers expert services in engineering, procurement, construction (EPC), and operations and management (O&M). Their work spans various sectors, including roads and highways, irrigation, and urban water infrastructure management.
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