The Competition Commission of India (CCI) has approved subscription to the equity shares of Niva Bupa Health Insurance Company Limited by V-Sciences Investments Pte. Ltd.

The proposed combination envisages the subscription of equity shares of Niva Bupa Health Insurance Company Limited (Target) by V-Sciences Investments Pte. Ltd. (Acquirer), along with certain additional rights (Proposed Transaction).

Acquirer is an indirectly wholly owned subsidiary of Temasek Holdings (Private) Limited (Temasek), which is an investment company based in Singapore. Temasek’s portfolio spans a broad spectrum of industries.

Target offers health insurance policies including health indemnity, health fixed benefit and travel insurance.

Detailed order of the CCI will follow.

Competition clearance for proposed equity subscription in a health insurer by a foreign investment vehicle with additional rights. Competition approval in principle for the proposed equity subscription by V-Sciences Investments Pte. Ltd. in Niva Bupa Health Insurance Company Limited, including certain additional rights as part of the combination; acquirer is an indirectly wholly owned subsidiary of a larger investment company and the target offers health indemnity, fixed-benefit and travel insurance products; a detailed regulatory order will follow.