India, April 7 -- The Government of India has issued a release:
The Competition Commission of India (CCI) has approved the acquisition of equity shares amounting to 14.286% of the Aditya Birla Housing Finance Limited by the Indriya Limited.
The Proposed Combination envisages acquisition of equity shares (by way of preferential issue on a private placement basis) amounting to 14.286% of the post-issue paid up equity share capital of the Aditya Birla Housing Finance Limited (Target), on a fully diluted basis by the Indriya Limited (Acquirer).
The Acquirer is an investment holding company. Currently, it does not have any operations in India.
The Target is a housing finance company in India, registered with the National Housing Bank as a no...