India, April 8 -- The Competition Commission of India (CCI) has approved the acquisition of a 14.286% equity stake in Aditya Birla Housing Finance Limited by Indriya Limited.
The proposed transaction involves Indriya Limited acquiring the stake through a preferential issue on a private placement basis, amounting to 14.286% of the post-issue paid-up equity share capital of the company on a fully diluted basis.
Indriya Limited operates as an investment holding company and currently does not have business operations in India. Meanwhile, Aditya Birla Housing Finance is registered with the National Housing Bank as a non-deposit-taking housing finance company and provides services such as home loans, loans against property, construction finance...