New Delhi (NVI): The Competition Commission of India (CCI) on October 24 approved acquisition of 4.15% of the shareholding in Aditya Birla Capital Limited (ABCL) by Jomei Investments Limited (JIL).
The ABCL had in September announced that it has received approval from its Board of Directors to raise primary equity capital of Rs 2,100 crore through a preferential allotment to certain marquee investors and the promoter as well as promoter group entities.
JIL, a special purpose vehicle, is wholly-owned by Advent International GPE IX Limited Partnership, a fund managed by Advent International Corporation. ABCL is the holding company for the financial services businesses of the Aditya Birla group.
Through its subsidiaries and joint ventures, ABCL has presence across diverse businesses including, non-banking financial sector, asset management, life insurance, housing finance, health insurance, general insurance broking, wealth management, equity, currency and commodity broking, pension fund management and asset reconstruction businesses.