CCI clears Kedaara Capital Fund stake purchase in Lenskart, Legal News, ET LegalWorld | Court Practice News

Fair trade regulator CCI on Tuesday approved the acquisition of 1.74 per cent equity stake of Lenskart Solutions by Kedaara Capital Fund III LLP. Lenskart Solutions is into the business of eyewear products, while Kedaara Capital Fund III LLP is a Sebi-registered Alternative Investment Fund (AIF). The latter is part of the Kedaara Group.

In a tweet on Tuesday, the Competition Commission of India (CCI) said it has approved “acquisition of approximately 1.74 per cent equity share capital of Lenskart Solutions Pvt Ltd by Kedaara Capital Fund III LLP (Kedaara Group)”.

In another tweet, the regulator said it has cleared the acquisition of a majority stake in Indira IVF by Zonnebaars, owned by BPEA Private Equity Fund VIII.

BPEA Private Equity Fund VIII is an investment fund owned and controlled by Swedish-based EQT AB.

Further, the CCI also approved the amalgamation of Spaceway Wellness into Indira IVF.

The company provides in vitro fertilisation treatment through its hospitals/centres across the country. Spaceway is one of the promoters of Indira IVF.

In July this year, EQT announced that BPEA Private Equity Fund VIII has agreed to acquire a controlling stake in Indira IVF, from TA Associates and Murdia family, who will retain a significant minority stake and continue to lead the company.

Deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices and promotes fair competition in the marketplace.

  • Published On Oct 3, 2023 at 10:45 PM IST

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