On 28 July 2025, the Competition Commission of India (CCI), under Ministry of Corporate Affairs (MCA), has approved the following two proposals:
- Approved the proposal of acquisition of certain shareholding in Renault Nissan Automotive India Private Limited (RNAIPL) by Renault Group B.V. and its nominee Renault S.A.S.
- Approved the proposed combination involving the acquisition of road infrastructure assets by Anantam Highways Trust (InvIT), Alpha Alternatives Fund Advisors LLP, and others (Sponsor and Sponsor Group), along with Dilip Buildcon Limited (DBL) and DBL Infraventures Private Limited (DIPL).
CCI Approved Renault’s Acquisition of RNAIPL from Nissan:
Acquirers: The CCI has approved the acquisition of the remaining 51% stake held by Nissan in Renault Nissan Automotive India Private Limited (RNAIPL)(Target) by Renault Group B.V. (Acquirer 1) and its nominee, Renault S.A.S. (Acquirer 2).
Details of the Proposed Combination: The proposed combination involves the acquisition of equity shares and fully paid-up zero-coupon non-convertible redeemable preference shares held by Nissan Motor Company Ltd., Japan and Nissan Overseas Investments B.V. (together “Sellers”) in RNAIPL by the acquirers.
Post-Transaction Shareholding: With this acquisition, Renault now holds full (100%) ownership of the Indian joint venture (JV), which operates a large vehicle manufacturing facility in Oragadam, near Chennai, Tamil Nadu(TN).
About the Entities:
Renault Group B.V.: Designs, manufactures and markets passenger cars, light commercial vehicles, electric vehicles, and provides mobility services globally.
Renault S.A.S.: Engaged in vehicle construction, maintenance, rental, repair, and related services.
- Both entities are controlled by Renault S.A. and form part of the Renault Group, headquartered in Boulogne-Billancourt, France.
Renault Nissan Automotive India Private Limited (RNAIPL): It is an Indian joint venture engaged in the manufacturing and assembly of passenger vehicles, transmissions, and auto components. It also provides operational and support services to both Renault and Nissan within the Indian market.
CCI Approves Road Asset Acquisition by Anantam Highways Trust:
Parties Involved: The CCI approved the proposed combination involving the acquisition of road infrastructure assets by Anantam Highways Trust (Infrastructure Investment Trust, InvIT), Mumbai (Maharashtra)-based Alpha Alternatives Fund Advisors LLP, and others (Sponsor and Sponsor Group), along with Bhopal (Madhya Pradesh, MP)-based Dilip Buildcon Limited (DBL) and DBL Infraventures Private Limited (DIPL).
Scope of the Acquisition: The proposed combination includes acquisition of:
- 100% shareholding in 8 target Special Purpose Vehicles (SPVs) including Dodaballapur Hoskote Highways Limited, Repallewada Highways Limited, Dhrol Bhadra Highways Limited, Narendrapur‑Purnea Highways Limited, Villuppuram Highways Limited, Bangalore Malur Highways Limited, Malur Bangarpet Highways Limited and DPJ Pollachi HAM Project Private Limited.
- 49% stake in PHL Infrastructure Private Limited (a road asset entity).
Mode of Consideration: The consideration for the transaction involves the allotment of InvIT units to the shareholders of the SPVs upon the listing of the InvIT.
About the Entities:
Anantam Highways Trust: A registered Infrastructure Investment Trust (InvIT) under Securities and Exchange Board of India (SEBI) regulations, set up under the Indian Trusts Act, 1882, registered on 19th August 2024.
Alpha Alternatives Fund Advisors LLP: A SEBI-registered investment advisor and portfolio manager; part of the Alpha Alternatives Group.
Dilip Buildcon Limited (DBL): Active in construction of roads, irrigation, tunnels, metros, airports, and mining projects, with operations across 19 states and 1 Union Territory(UT) in India.
DBL Infraventures Private Limited (DIPL): A wholly owned subsidiary of DBL; both entities form the DBL Group.
Target Special Purpose Vehicles (SPVs): The Target SPVs operate road infrastructure assets across several Indian states.
