India, April 2 -- The Competition Commission of India (CCI) has approved the proposals of 360 ONE and Claypond Capital to jointly purchase stakes in healthtech unicorn PharmEasy parent API Holdings.

However, there is no clarity on the deal terms, including size and amount.

Under the proposed transaction, 360 ONE aims to acquire certain class B compulsorily convertible preference shares (CCPS B) of API Holdings from existing shareholder, MEMG Family Office LLP, the regulator said in its order yesterday.

The competition watchdog has also greenlit the proposal of Claypond Capital, the family investment office of Manipal Group chairman Ranjan Pai, to acquire certain CCPS B of API Holdings from MEMG Family Office LLP.

It must be noted that...