CCI approves Kora Master Fund LP investment up to $75 million in Edelweiss Securities

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New Delhi : The Competition Commission of India (CCI) has approved Kora Master Fund LP investment of up to 10% ($75 million) in Edelweiss Securities Limited, a Mumbai based company,  under sub-section (1) of Section 31 of the Act.

The notification relates to a proposed investment by Kora, a US based firm, in Edelweiss Securities Limited (ESL) and Edelweiss Global Investment Advisory Business (EGIA) Subsidiaries of up to $75 million, as set out in the Share Subscription Agreement.

The Acquirer is a foreign portfolio investor (FPI) registered with the Securities Exchange Board of India (SEBI). Its principal activity is that of investment holding and related activities, according to a PIB release.

The Target Entities belong to the Edelweiss Group, with Edelweiss Financial Services Limited (EFSL) as the ultimate holding company, broadly engaged in the Edelweiss Global Investment Advisory Business.