On July 08 2025, the Competition Commission of India (CCI), operates under the Ministry of Corporate Affairs(MoCA), has approved the following proposals:
- Approved the proposal of Kedaara Capital to purchase a certain stake in SmartShift Logistics Solutions Private Limited, the parent company of on-demand logistics-turned-unicorn ‘Porter’.
- Approved the proposal of 360 ONE Group to acquire select wealth and lending units of multinational investment bank UBS AG, a direct 100%-owned subsidiary of UBS Group AG (UBS), through its entities.
CCI Approved Kedara Capital’s Stake Acquisition in Logistics Firm Porter:
The CCI approved the proposal of private equity firm Kedaara Capital Investment Managers Limited to purchase certain stake in SmartShift Logistics Solutions Private Limited, the parent company of on-demand logistics-turned-unicorn ‘Porter’, primarily engaged in business activities, including the provision of logistics services, packing and moving services.
- As per the proposed arrangement, Kedaara Capital will acquire a stake in SmartShift Logistics Solutions Private Ltd. (Target) through its two affiliates Kedaara Sapphire Holding and Kedaara Capital Fund IV Alternative Investment Fund (AIF).
- The CCI’s approval paves the way for the completion of this significant investment, which forms part of Porter’s strategic Series F funding round focused on expanding operations, enhancing technological capabilities, and strengthening its workforce.
Note: In May 2025, Porter had raised USD 200 million in a Series F funding round co-led by Kedaara Capital and Wellington Management at a valuation of USD 1.2 billion. After the completion of this fundraising round, Porter became the 3rd unicorn after Netradyne and Juspay in 2025.
CCI Approved 360 ONE’s Proposal to Acquire Select UBS AG businesses in India:
The CCI has approved the proposal of 360 ONE Group to acquire select wealth and lending units of Switzerland-based investment bank UBS AG, a direct 100%-owned subsidiary of UBS Group AG (UBS), through its entities.
- As per the proposed arrangement, 360 ONE Portfolio Managers Limited will buy the portfolio management services business of Credit Suisse Securities (India) Private Limited, a step-down wholly-owned subsidiary of UBS AG.
- While, 360 ONE Distribution Services Limited will acquire the stock broking and financial product distribution services of the same entity.
Key Points:
i.Also, CCI has approved the loan portfolio which forms part of lending and financing business of UBS Finance India Private Limited, a systematically important non-deposit taking Non-Banking Financial Company (NBFC) by 360 ONE Prime Limited.
ii.Additionally CCI has cleared UBS AG’s subscription to warrants of 360 ONE WAM Limited (360 OWL), accounting for 4.95% of the paid-up share capital.
Points to Note:
i.360 OWL is the parent entity of the 360 ONE Group. It is a wealth and asset management firm in India which serves High-Net Worth Individuals (HNWIs) through its customized wealth management solutions.
ii.360 Prime, 360 Portfolio, and 360 Distribution, are subsidiaries of 360 OWL and they are engaged in lending, asset management, and financial product distribution.
Recent Related News:
In June 2025, CCI approved the acquisition of certain issued and paid-up equity share capital of Haldiram Snacks Food Private Limited (HSFPL) by Alpha Wave Ventures II LP and Alpha Wave IHC CI, LP.
