CCI Approves 6.63% Share Acquisition in Valuedrive Technologies by Fidelity Funds
The Competition Commission of India has given its approval for the Fidelity Funds to acquire a 6.63% minority stake in Valuedrive Technologies Private Limited. This acquisition involves both primary and secondary subscriptions of compulsory convertible preference shares. Fidelity Funds is a part of the Fidelity Group, known for its diverse investment portfolio globally. Valuedrive, part of the Spinny Group, primarily operates an electronic platform for vehicle sales, among other subsidiaries in lending, insurance broking, and automotive media services.
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