The Competition Commission of India (CCI) approved Cube Highways and Infrastructure V Pte. Ltd.’s (Cube V) acquisition of select special purpose vehicles (SPVs) from the Dineshchandra R Agrawal Infracon (DRA) Group on Wednesday.
The deal covers the road asset businesses of Dineshchandra Yamuna Infra Pvt. Ltd. (DYIPL), Dineshchandra Vaishnodevi Infra Pvt. Ltd. (DVIPL), Dineshchandra Giriraj Infra Pvt. Ltd. (DGIPL), and Dineshchandra Trans-Eastern Highways Pvt. Ltd. (DTEHPL), collectively termed the Target Businesses.
Cube V, a registered FPI with Securities and Exchange Board of India (SEBI), operates a world-class portfolio of high-quality highway and transportation infrastructure assets in India. It acquires, operates and manages road assets in India.
These SPVs operate key road and highway assets in India under government concessions, including toll and annuity models.
CCI received the “Summary of the Proposed Transaction” on January 20, 2026, and granted approval after review under the Competition Act, 2002.
