On July 15, 2025, Competition Commission of India (CCI), Ministry of Corporate Affairs (MCA), has approved the following proposals:
- Approved the Acquisition of the Target Business from Siemens Gamesa Renewable Power Private Limited (SGRE) and Siemens Gamesa Renewable Energy Lanka (Private) Limited (SGREL) by Peony Properties Private Limited (PPPL), TPG REGen SG Pte. Limited(TPG REGen), Mavco Investments Private Limited (Mavco), Tikri Investments(Tikri) and SGRE for Rs.7,000 crores.
- Approved the proposal for acquisition of SMC Power Generation Limited (SMC PGL) by Rungta Sons Private Limited (RSPL).
CCI Approves Acquisition of SGRE and SGREL by PPPL, TPG REGen, Mavco, Tikri and SGRE:
The CCI has approved the proposed acquisition of the 90% stake (Rs. 7,000 crore) in Target Businesss from (Targets) SGRE and SGREL by a group of entities, including (Acquirers) PPPL, TPG REGen, Mavco, Tikri, with SGRE and SGREL retaining a 10% stake.
- Target Businesses of SGREL are related to the manufacture and assembly of onshore wind turbine generators and the operation, maintenance and technical services of wind turbines and/or onshore wind power projects.
- Target Business is presently being carried out by SGRE and SGREL in India and Sri Lanka.
Key Points:
i.PPPL and TPG REGen are controlled by TPG Inc., which is a global, diversified investment firm, listed on National Association of Securities Dealers Automated Quotations (NASDAQ).
ii.SGRE is a wholly owned indirect subsidiary of Siemens Energy AG (SEAG) and is presently engaged in carrying out the Target Business in India.
iii.SGRE Sri Lanka, a wholly owned subsidiary of SEAG, is presently engaged in carrying out the Target Business in Sri Lanka.
CCI Approves Acquisition of SMC Power Generation by Rungta Sons:
The CCI has approved the acquisition of 100% shareholding in SMCPGL by RSPL. The approval was granted under Section 31(1) of the Competition Act, 2002, permitting the transaction to proceed without any conditions or modifications.
- This strategic acquisition represents a major step in India’s ferrous and non-ferrous metals sector, indicating a possible consolidation of the steel value chain, especially in eastern India.
Key Points:
i.Following the acquisition, SMCPGL will become a wholly owned subsidiary of Rungta Sons, enabling Rungta Sons to exercise full control over its operational and strategic direction.
ii.SMCPGL is primarily engaged in the manufacture and sale of sponge iron, steel billets, Thermo Mechanical Treatment (TMT) bars, pig iron and ferro alloys, especially silico manganese.
iii.RSPL is engaged in the business of mining iron ore (Fe) and manganese ore (Mn), and manufacturing ferro alloys.
- RSPL positions itself to strengthen its downstream presence, improve raw material security, expand product offerings, enhance market reach.
About Competition Commission of India (CCI):
The CCI, a statutory body under the Ministry of Corporate Affairs(MoCA), serves as the primary national competition regulator. It enforces the Competition Act, 2002 to foster fair competition and curb practices that adversely impact market competition in India.
Chairperson – Ravneet Kaur
Headquarters – New Delhi, Delhi
Established – 2003
