MG Motor India Share Price: CCI clears IndoEdge’s purchase of MG Motor India stake and other transactions.

New Delhi: The Competition Commission of India (CCI) on Tuesday said it has approved various proposals, including acquisition of 8% stake in MG Motor India and accession of Axis Bank by the IndoEdge India Fund – Large Value Fund (LVF) scheme. Max Life Insurance Company has approximately 142.58 million shares.

The acquisition of MG Motor India’s shares will give InfoEdge India Fund 8.70 per cent voting and economic rights, according to a statement from the anti-trust regulator. The acquirer said it is a large-cap value fund for accredited investors planned by IndoEdge, an endowment trust registered with the Securities and Exchange Commission of India as an alternative investment fund.

In a separate statement, the regulator said it had approved the acquisition of a 10.39% stake in Annapurna Finance and the subscription of certain debentures by a trust affiliated with Piramal Enterprises.

Piramal Alternatives Trust is a fund management business that provides customized financial solutions to blue-chip companies, and Annapurna Finance is a no-deposit non-bank financial company engaged in microfinance and small business loans.

Sharekhan Trading

Regulators also announced that Mirae Asset Capital Markets (India) and Mirae Asset Securities approved the acquisition of 100% of the shares of Sharekan and Human Value Developers, respectively. Mirae Asset Securities (MAS) is currently listed. The Korea Exchange’s main businesses include asset management, investment banking, sales and trading, and principal investment. Mirae Asset Capital Markets (India) is a financial advisory and brokerage firm and a wholly-owned subsidiary of MAS. The CCI also approved AMG India’s acquisition of the assets of Nagarjuna Fertilizers and Chemicals and 100% stakeholding in ZeroC using the proceeds. The regulator also approved the acquisition of compulsorily convertible preference shares of Pritam International by alternative investment funds India Advantage Fund S5 1 and HCL Corporation and Mirabilis. Investment Trust, Aashil Apurva Shah and Ansh Ashit Shah.

CCI has approved the acquisition of Northern Arc Capital’s compulsorily convertible preferred shares by the International Finance Corporation.

The Subscription Shares, together with certain positive voting and board nomination rights, represent approximately 6% of Northern Arc Capital’s total issued and paid-up share capital on a fully diluted basis.