{"id":220949,"date":"2019-10-17T13:30:17","date_gmt":"2019-10-17T08:00:17","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=220949"},"modified":"2019-10-17T11:27:59","modified_gmt":"2019-10-17T05:57:59","slug":"cci-approves-kora-master-fund-lp-investment-of-up-to-10-75-million-in-edelweiss-securities-limited","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2019\/10\/17\/cci-approves-kora-master-fund-lp-investment-of-up-to-10-75-million-in-edelweiss-securities-limited\/","title":{"rendered":"CCI approves Kora Master Fund LP investment of up to 10% ($75 million) in Edelweiss Securities Limited"},"content":{"rendered":"<p style=\"text-align: justify;\">The Competition Commission of India (CCI) has approved Kora Master Fund LP investment of up to 10% ($75 million) in Edelweiss Securities Limited under sub-section (1) of Section 31 of the Competition Act.<\/p>\n<p style=\"text-align: justify;\">The notification relates to a proposed investment by Kora in Edelweiss Securities Limited (ESL) and Edelweiss Global Investment Advisory Business (EGIA) Subsidiaries of up to INR equivalent to $75 million, as set out in the Share Subscription Agreement.<\/p>\n<p style=\"text-align: justify;\">The Acquirer is a foreign portfolio investor (FPI) registered with the Securities Exchange Board of India (SEBI). Its principal activity is that of investment holding and related activities.<\/p>\n<p style=\"text-align: justify;\">The Target Entities belong to the Edelweiss Group, with Edelweiss Financial Services Limited (EFSL) as the ultimate holding company, are broadly engaged in the Edelweiss Global Investment Advisory Business.<\/p>\n<hr \/>\n<p><strong>Ministry of Corporate Affairs<\/strong><\/p>\n<p style=\"text-align: right;\"><strong>[Press Release dt. 16-10-2019]<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Competition Commission of India (CCI) has approved Kora Master Fund LP investment of up to 10% ($75 million) in Edelweiss Securities 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