India, Oct. 17 -- The Competition Commission has approved the US-based Kora's proposed investment worth USD 75 million (about Rs 532 crore) in Edelweiss Group.
As per the share subscription agreement, Kora is to invest in Edelweiss Securities Ltd (ESL) and Edelweiss Global Investment Advisory (EGIA) business subsidiaries.
The deal was announced in August.
In a tweet on Wednesday, the Competition Commission of India (CCI) said it "approves Kora Master Fund LP investment of up to 10 pc (USD 75 million) in Edelweiss Securities Limited."
The acquirer is a foreign portfolio investor.
The target entities belong to the Edelweiss Group, with Edelweiss Financial Services Limited (EFSL) as the ultimate holding company, and are broadly engaged in...