The Competition Commission of India (CCI) has approved the acquisition of a certain shareholding in Ambit Private Limited (APL) by Daiwa International Holdings Inc.
The proposed combination relates to the acquisition of a certain shareholding in APL through a combination of primary subscription of shares and secondary share purchases from existing shareholders.
“Commission approves the acquisition of certain shareholding in Ambit Private Limited by Daiwa International Holdings Inc”, the CCI tweeted.
Daiwa International Holdings Inc. is an intermediary management holding company, incorporated in Japan.
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It was established for the purpose of holding stocks or shares in a domestic or foreign company and controlling and managing its commercial activities.
Ambit Private Limited is a private company incorporated in India and provides a range of financial services.
It is registered with the Securities and Exchange Board of India (SEBI) as a merchant banker and its various subsidiaries are engaged in providing lending, stock broking, depository participation, research analysis, portfolio management, mutual fund distribution, and fund management services.