New Delhi (NVI): The Competition Commission of India (CCI) on October 16, approved Kora Master Fund LP investment of up to 10% that is $75 million (about Rs 532 crore) in Edelweiss Securities Limited (ESL).
ESL is a company which provides financial services to individuals, institutions, trusts, private funds and various investment companies.
Kora, a foreign portfolio investor proposed investment in ESL and Edelweiss Global Investment Advisory Business (EGIA) Subsidiaries under sub-section (1) of Section 31 of the Act, as set out in the Share Subscription Agreement.
Kora Master Fund LP is the acquirer with the Securities Exchange Board of India (SEBI), its principal activity is to handle investment and related activities.
The Target Entities belong to the Edelweiss Group, with Edelweiss Financial Services Limited (EFSL) as the ultimate holding company, are broadly engaged in the EGIA Business.