CCI Approves Cube Highways’ Acquisition of Dineshchandra Group Road Assets

March 10, 2026 : The Competition Commission of India has approved a proposed combination involving the acquisition of road asset businesses of four Dineshchandra group entities by Cube Highways and Infrastructure V Pte. Ltd. and others, according to a press release dated 10 March 2026.

The transaction concerns the indirect purchase of road asset businesses housed under:

• Dineshchandra Yamuna Infra Pvt. Ltd.
• Dineshchandra Vaishnodevi Infra Pvt. Ltd.
• Dineshchandra Giriraj Infra Pvt. Ltd.
• Dineshchandra Trans-Eastern Highways Pvt. Ltd.

Collectively referred to as the target businesses, these entities are engaged in operating road and highway projects in India under government concession agreements.

Cube V, which is registered as a foreign portfolio investor with the Securities and Exchange Board of India, focuses on acquiring, operating and managing highway and transportation infrastructure assets across India. The proposed acquisition aligns with its strategy of building a portfolio of high-quality road infrastructure assets.

The Commission noted that the combination involves the indirect acquisition of the underlying businesses of the target entities and, after reviewing the transaction details, granted its approval. It also clarified that a detailed order will be issued separately.

Cause Title: In Re: Cube Highways and Infrastructure V Pte. Ltd. acquisition of Dineshchandra Group road asset businesses
Case No.: Press Release No. 122/2025-26 (CCI)
Coram: Competition Commission of India