CCI approves acquisition of stake in IIFL Home indirectly by ADIA Group

The proposed transaction relates to the acquisition of up to 20 per cent stake in IIFL Home Finance by Platinum Owl C 2018 RSC Ltd, a trustee acting for Platinum Jasmine Trust.

IIFL Home Finance
In June, IIFL Home Finance, a subsidiary of IIFL finance Ltd, had entered into definitive agreements for raising Rs 2,200 crore of primary capital for a 20 per cent stake from a wholly-owned subsidiary of ADIA.
Press Trust of India New Delhi
1 min read Last Updated : Aug 13 2022 | 7:27 PM IST

The Competition Commission of India (CCI) has approved the acquisition of stake in IIFL Home indirectly by Abu Dhabi Investment Authority (ADIA).

The proposed transaction relates to the acquisition of up to 20 per cent stake in IIFL Home Finance by Platinum Owl C 2018 RSC Ltd, a trustee acting for Platinum Jasmine Trust.

ADIA is the sole beneficiary and settlor of the Platinum Jasmine Trust.

In a tweet on Friday, the CCI said it has approved the "acquisition of stake in IIFL Home indirectly by ADIA Group".

In June, IIFL Home Finance, a subsidiary of IIFL finance Ltd, had entered into definitive agreements for raising Rs 2,200 crore of primary capital for a 20 per cent stake from a wholly-owned subsidiary of ADIA.

IIFL Home is a housing finance company and is a wholly-owned subsidiary of IIFL Finance Limited.

Deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices in the market place.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :Competition Commission of IndiaIIFLacquisition

First Published: Aug 13 2022 | 7:27 PM IST

Next Story