The Competition Commission of India has approved the acquisition by Alpha Wave Ventures II, LP of a 12.44% shareholding in Advanta Enterprises Limited.

The Proposed Combination envisages the acquisition by Alpha Wave Ventures II, LP (AWV II) of a 12.44% shareholding in Advanta Enterprises Limited (Advanta).

AWV II is the flagship global private equity fund managed by Alpha Wave Ventures GP, a joint venture between Alpha Wave Global, LP and Lunate Holding RSC Ltd. AWV II aims to invest in best-in-class growth-stage companies and endeavours to be helpful long-term partners.

Advanta is engaged in the business of breeding, producing, researching, developing, introducing, and commercializing, sale, purchase, export and import of seeds and seed varieties.

Detailed order of the Commission will follow.

Competition approval for a private equity acquisition enables minority shareholding in a seed-breeding enterprise after merger clearance. The Competition Commission of India approved the Proposed Combination in which Alpha Wave Ventures II, LP, a flagship global private equity fund managed by Alpha Wave Ventures GP, will acquire a 12.44% shareholding in Advanta Enterprises Limited, a company engaged in breeding, producing, researching, developing, introducing, commercializing and trading seeds and seed varieties; the Commission's detailed order will follow.