On August 8, 2023, the Competition Commission of India (CCI) approves merger of Tata Cleantech Capital Limited (TCCL) and Tata Capital Financial Services Limited (TCFSL) into Tata Capital Limited (TCL).
Key Points:
i.TCL, registered with the Reserve Bank of India (RBI), is a Core Investment Company (CIC). Its main focus is on investing in its subsidiary companies operating in the financial services sector
ii.TCFSL, fully owned by TCL, is an important Non-Banking Financial Company (NBFC) under RBI’s supervision. Its core operations include lending and providing financial services within the financial sector.
iii.TCCL, another subsidiary of TCL, is also an RBI-registered NBFC. It specializes in offering cash flow-based finance and advisory services for projects centered around renewable energy, energy efficiency, waste and water management, and other infrastructure ventures.
CCI clears proposed acquisition of HDFC Credila Financial Services
CCI also approved the combination involving the acquisition of 90% of the shareholding of HDFC Credila Financial Services Limited(HDFC Credila) by Kopvoorn B.V., Moss Investments Limited, Infinity Partners and Defati Investments Holding B.V.
- In June 2023, HDFC Ltd, HDFC Bank, and HDFC Credila declared their proposal to sell a substantial stake in HDFC Credila to a consortium of private equity firms including BPEA, EQT, and ChrysCapital at a transaction value of Rs 9,060 crore.
Key Points:
i.Kopvoorn B.V., owned by BPEA Private Equity Fund VIII managed by EQT AB, is the Netherlands incorporated company, part of the global EQT investment group.
ii.Moss Investments Limited (Moss), Infinity Partners (Infinity), and Defati Investments Holding B.V. (Defati) are collectively known as ChrysCapital Acquirers, are private equity investors.
iii.HDFC Credila, a subsidiary of Housing Development Finance Corporation Limited (HDFC) Ltd., is an Indian public limited company incorporated under the Companies Act, 1956 and registered with RBI. It is focused on providing education loans for higher studies in India and abroad.
Recent Related News:
i.CCI cleared the proposed deal involving Manipal Health Enterprises Pvt Limited (MHEPL) and Manipal Education and Medical Group India Pvt Limited (MEMG India).
ii.CCI approved the acquisition of an additional 4.04% shareholding of Acko Technology and Services Private Limited (Acko Tech) by General Atlantic Singapore ACK Pte. Ltd. (GASACK).
About Competition Commission of India (CCI):
Chairperson– Ravneet Kaur
Headquarter– New Delhi, Delhi
Establishment– 2003
