The Competition Commision of India (CCI) approves acquisition of additional equity shares in Hero FinCorp Limited by Otter Limited and Link Investment Trust.

The proposed combination envisages subscription to additional equity shares in Hero FinCorp Limited by Otter Limited and Link Investment Trust.

Otter is an investment company registered in Mauritius. Link is a private trust registered in India and is engaged in making investments.

Hero Fin-Corp is a public limited company registered as a systemically important non-deposit taking non-banking financial company (NBFC) with the Reserve Bank of India. It is primarily engaged in the business of consumer finance and commercial lending.

Detailed order of the CCI will follow.

****

RM/KMN

Competition clearance for acquisition of additional equity in a systemically important NBFC by two investment vehicles. Competition clearance was granted for a subscription to additional equity shares in Hero FinCorp Limited by Otter Limited, an investment company registered in Mauritius, and Link Investment Trust, a private investment trust in India, altering Hero FinCorp's shareholding; Hero FinCorp is a public limited, systemically important non-deposit taking NBFC focused on consumer finance and commercial lending, and a detailed order will follow.