CCI approves proposed combination involving acquisition of Batlivala & Karani Securities Private Limited and Batlivala & Karani Finserv Private Limited by 360 ONE

CCI approves proposed combination involving acquisition of Batlivala & Karani Securities Private Limited and Batlivala & Karani Finserv Private Limited by 360 ONE

The Competition Commission of India has approved the proposed combination involving acquisition of Batlivala & Karani Securities Private Limited and Batlivala & Karani Finserv Private Limited by 360 ONE.

360 ONE WAM Limited (360 ONE/ Acquirer) (including its group entities) is a wealth and asset management firm in India.

Batlivala & Karani Securities Private Limited (Target 1) is, inter alia, engaged in the business of equity broking, distribution of financial products, investment banking and research analysis.

Batlivala & Karani Finserv Private Limited (Target 2) is engaged in the business of distribution of financial products.

The proposed combination relates to acquisition of shareholding by the Acquirer in Target 1 and Target 2 from Mr Saahil Murarka, Batlivala & Karani Resources Management (BKRM) and Ms Swapna Murarka. As part consideration, Mr Saahil Murarka and BKRM will also acquire certain shareholding in the Acquirer (Proposed Combination)

Detailed order of the Commission will follow.