New Delhi: The Competition Commission of India (CCI) on Tuesday approved Advent International's proposal to pick up a 14.3% stake in Aditya Birla Housing Finance.
In February, the boards of Aditya Birla Capital and its subsidiary Aditya Birla Housing Finance (ABHFL) had cleared a proposal for a primary capital infusion of Rs 2,750 crore in ABHFL from Indriya, an Advent International entity.
"The proposed combination envisages acquisition of equity shares (by way of preferential issue on a private placement basis) amounting to 14.286% of the post-issue paid up equity share capital of the Aditya Birla Housing Finance, on a fully diluted basis by the Indriya Ltd," the competition watchdog said in a statement.
ABHFL is engaged in the business of providing home loans, loans against property, construction finance loans, and lease rental discounting loans.
Separately, the CCI said it has cleared the proposed acquisition by Citrus Investment LLC of additional shareholding of 0.4% in Hitachi Construction Machinery Co (HCM) and sole control of its 50:50 joint venture, HCJI Holdings K K.
The competition regulator also approved the acquisition of a 100% stake of KNR SPVs by Indus Infra Trust from KNR Constructions.
In February, the boards of Aditya Birla Capital and its subsidiary Aditya Birla Housing Finance (ABHFL) had cleared a proposal for a primary capital infusion of Rs 2,750 crore in ABHFL from Indriya, an Advent International entity.
"The proposed combination envisages acquisition of equity shares (by way of preferential issue on a private placement basis) amounting to 14.286% of the post-issue paid up equity share capital of the Aditya Birla Housing Finance, on a fully diluted basis by the Indriya Ltd," the competition watchdog said in a statement.
ABHFL is engaged in the business of providing home loans, loans against property, construction finance loans, and lease rental discounting loans.
Separately, the CCI said it has cleared the proposed acquisition by Citrus Investment LLC of additional shareholding of 0.4% in Hitachi Construction Machinery Co (HCM) and sole control of its 50:50 joint venture, HCJI Holdings K K.
The competition regulator also approved the acquisition of a 100% stake of KNR SPVs by Indus Infra Trust from KNR Constructions.
