The Competition Commission of India (CCI) has approved subscription of certain equity shareholding by Kedaara Pearl Holding and Kedaara Capital Fund IV AIF in Axis Finance Limited.

The proposed combination relates to a subscription of certain equity shareholding by Kedaara Pearl Holding and Kedaara Capital Fund IV AIF (collectively, the ‘Acquirers’) in Axis Finance Limited (Target).

The Acquirers are investment vehicles which belong to the Kedaara Group.

The Target is engaged in the provision of a range of financial services, including wholesale lending, MSME financing, retail loans to individuals and businesses across India, and the distribution of insurance products.

Detailed order of the Commission will follow.

Competition Commission approval for equity subscription in a financial services company through a proposed combination Competition Commission approval was granted for a proposed combination involving the subscription of certain equity shareholding by Kedaara Pearl Holding and Kedaara Capital Fund IV AIF in Axis Finance Limited. The transaction concerns a minority equity subscription in a financial services enterprise, with the Commission's detailed order stated to follow.