The Exchange has sought clarification from PNC Infratech Limited with respect to recent news item captioned CCI clears PNC Infratech's acquisition of Jaiprakash Associates. The response from the Company is attached.
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Awaiting price reaction for this filing.
The NSE asked PNC Infratech to clarify news about the Competition Commission of India (CCI) approving its acquisition of certain assets/business of Jaiprakash Associates. PNC Infratech has submitted its response to the exchange. The company is a listed infrastructure firm, while Jaiprakayash Associates is also a listed entity currently undergoing insolvency resolution.
Positive development for PNC Infratech as CCI clearance is a key regulatory milestone, potentially expanding its asset base. Shareholders should watch for further updates on deal terms, valuation, and any open offer obligations triggered under SEBI takeover rules.