The Competition Commission of India (CCI) approves acquisition by T.S. Rajam Rubbers Private Limited (Acquirer 1) and Dhinrama Mobility Solution Private Limited (Acquirer 2) of certain shareholding in TVS Supply Chain Solutions Private Limited (Target) under Section 31(1) of the Competition Act, 2002.

The proposed transaction entails an acquisition of additional shareholding of Target by Acquirer 1 and Acquirer 2 (collectively Acquirers). The proposed transaction will be carried out through a secondary purchase from CDPQ Private Equity Asia Pte. Ltd. (CDPQ).

The Acquirers are wholly owned subsidiaries of TVS Mobility Private Limited, which is owned and controlled by Shri TS Rajam Family. The TS Rajam Family members are the promoters of the Target.

Target is an unlisted public company and along with its affiliates, it is engaged in provision of logistics/supply chain solutions services in India and abroad.

Detailed order of the CCI will follow.

Competition approval under Section 31(1): acquisition of shareholding in TVS Supply Chain via secondary purchase permitted. Approval was granted by the Competition Commission for the acquisition by T.S. Rajam Rubbers Private Limited and Dhinrama Mobility Solution Private Limited of additional shareholding in TVS Supply Chain Solutions Private Limited, effected through a secondary purchase of shares from CDPQ Private Equity Asia Pte. Ltd.; the acquirers are wholly owned subsidiaries of TVS Mobility Private Limited, owned and controlled by the TS Rajam family who are promoters of the target.