On May 20, 2025, the Competition Commission of India (CCI) approved the following proposals:
i.Approved Bajaj Group’s Proposal to Acquire Allianz’s Stakes in Insurance Joint Venture (JV) for Rs. 24,180 Crore
ii.Approved the acquisition of majority shareholding/control in Nazara Technologies Limited (Nazara) by three entities, namely, Axana Estates LLP (Axana), Plutus Wealth Management LLP (Plutus), and Junomoneta Finsol Private Limited (JFPL).
iii.Approved Singapore-based Temasek Holdings (Private) Limited (Temasek) proposed acquisition of minority shareholding in Haldiram Snacks Food Private Limited (HSFPL) through its subsidiary, JongSong Investments Pte. Limited.
iv.Approved 360 ONE WAM Limited (360 ONE) (including its group entities) proposed combined acquisition of Batlivala & Karani Securities Private Limited, and Batlivala & Karani Finserv Private Limited.
CCI Approved Bajaj Group’s Proposal to Acquire Allianz’s Stakes in Insurance JV for Rs. 24,180 Crore
CCI has approved Bajaj Group’s proposal to acquire 26% stake each in Pune (Maharashtra)-based Bajaj Allianz General Insurance Company Limited (BAGIC) and Pune-based Bajaj Allianz Life Insurance Company Limited (BALIC) from its partner Allianz SE (Allianz), worth Rs 24,180 crore. This marks the largest deal in India’s insurance sector.
- After the completion of this transaction, the shareholding of Bajaj Group will increase both in Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company, from the existing 74% to 100%.
Key Details:
i.As per the proposed combination, Bajaj Group entities: Pune-based Bajaj Finserv Limited (BFS), Pune-based Bajaj Holdings & Investment Limited (BHIL), and Wardha (Maharashtra)-based Jamnalal Sons Private Limited (JSPL) will acquire proposed stakes in BALIC and BAGIC.
ii.The proposed transaction also involves the acquisition of 50% paid-up equity share capital of Pune-based Bajaj Allianz Financial Distributors Limited (BAFDL) by BFS from Allianz.
About Key Entities Involved in Transaction:
i.BFS is a listed public limited company established under the provisions of the Companies Act, 1956. It acts as a promoter of financial services and an aggregator of healthcare services through its subsidiaries in India.
- It is also an unregistered Core Investment Company (CIC) as understood under the Core Investment Companies (Reserve Bank) Directions, 2016 (Unregistered CIC).
ii.BHIL is a listed public limited company established under the provisions of the Indian Companies Act, 1913, and is registered with the Reserve Bank of India (RBI) as a Non-Banking Financial Company (NBFC)-Investment and Credit Company (ICC).
iii.BALIC is a public limited company established under the provisions of the Companies Act, 1956. It is a JV between BFS and Allianz and a private sector insurance company registered with the Insurance Regulatory and Development Authority of India (IRDAI) in 2001.
iv.BAFDL is a public limited company established under the provisions of Companies Act, 1956. It is a 50:50 JV between BFS and Allianz and is registered with IRDAI as a corporate agent (composite) for life and general/ non-life insurance business.
v.BAGIC is also a public limited company established under the provisions of Companies Act, 1956. It is a JV between BFS and Allianz and is registered with IRDAI, engaged primarily in life and general/ non-life insurance business.
vi.JSPL is a private limited company established under the provisions of the Companies Act, 1913, and is classified as an Unregistered CIC.
CCI Approved Acquisition of Majority Stake in Nazara Tech by Axana, Plutus, and Junomoneta
CCI has approved the acquisition of majority shareholding/control in Mumbai (Maharashtra)-based Nazara Technologies Limited (Nazara) that operates as a diversified platform in gaming and sports media, by three entities, namely, Chennai (Tamil Nadu, TN)-based Axana Estates Limited Liability Partnership (LLP) (Axana), Ahmedabad (Gujarat)-based Plutus Wealth Management LLP (Plutus) and Gandhinagar (Gujarat)-based Junomoneta Finsol Private Limited (JFPL).
- As per the proposed combination, Nazara (Target) is actively engaged in skill-based Real Money Gaming (RMG), organizes esports events, and offers a multi-sports content platform catering audiences in India and the United States of America (USA).
About Acquirers:
i.Axana is primarily engaged in real estate and related activities. It also invests buys, sells, and acquires shares and securities and other financial instruments whether listed on recognised stock exchanges or otherwise in India or elsewhere.
ii.Plutus is engaged in the business of proprietary stock and commodity broking, trading and investments in stock, commodities and other related businesses.
iii.JFPL works in the businesses of proprietary stock broking and trades in equity, commodity, and derivative markets.
CCI Approved Jongsong Investments Pte. Ltd Minority Stake Acquisition in Haldiram Snacks Food
CCI has approved Jongsong Investments Pte. Limited, an indirectly wholly-owned subsidiary of Singapore-based Temasek Holdings (Private) Limited (Temasek), proposed the acquisition of minority shareholding in Noida (Uttar Pradesh, UP)-based Haldiram Snacks Food Private Limited (HSFPL).
- As per the proposed transaction, Jongsong Investments Pte (Acquirer) will purchase less than 10% of the issued and paid-up equity share capital of Haldiram Snacks Food Pvt. Ltd. (Target).
Key Point:
i.Haldiram Snacks Food was incorporated in India on December 12, 2022. The company, including its affiliates, will be engaged in the manufacture and sale of packaged food products in India, like: snacks, sweets, ready-to-eat products, dairy products, etc.
ii.Temasek is an investment holding company which covers wide spectrum of industries including, transportation & industrials, financial services, telecommunications, consumer & real estate and others (including credit).
CCI Approved Proposed Acquisition of Batlivala & Karani Securities Private Limited & Batlivala & Karanu Finserv Private Limited by 360 ONE
CCI has approved Mumbai (Maharashtra)-based wealth and asset management company, 360 ONE WAM Limited (360 ONE) (including its group entities) proposed combined acquisition of Batlivala & Karani Securities Private Limited, and Batlivala & Karani Finserv Private Limited.
- As per the proposed combination, 360 ONE (Acquirer) will buy shareholding in Batlivala & Karani Securities Pvt. Ltd. (Target 1) which is engaged in the business of equity broking, distribution of financial products, and Batlivala & Karani Finserv Private Limited (Target 2) which is engaged in the business of distribution of financial products from Saahil Murarka, Batlivala & Karani Resources Management (BKRM).
Recent Related News:
In April 2025, CCI approved a joint proposal of wealth management company 360 ONE Private Equity Fund and New Delhi (Delhi)-based Bharti Life Ventures Private Limited (BLVPL) to buy certain stakes in Mumbai (Maharashtra)-based Bharti Axa Life Insurance Company Limited (BALIC)(Target), a limited liability public unlisted company incorporated in India.
