CCI Approves Indriya's Proposed Acquisition Of 14.2% Stake In Aditya Birla Housing Finance

The Competition Commission of India has approved the proposed acquisition of a 14.286% stake in Aditya Birla Housing Finance Limited by Indriya Limited.

It said a detailed order will follow.

Indriya Limited will acquire the stake through a preferential issue on a private placement basis. The shareholding will be 14.286% of the post-issue paid-up capital on a fully diluted basis.

Indriya Limited is an investment holding company with no operations in India. Aditya Birla Housing Finance Limited is a housing finance company registered with the National Housing Bank. It provides home loans, loans against property, construction finance, and lease rental discounting.

The Commission noted the structure of the deal and the businesses of both entities while clearing the transaction. It did not record any competition concerns in the press release.