India´s regulator approves Flipkart s minority stake acquisition in ABFRL
By Angela Gonzalez-Rodriguez
21 Jan 2021
The Competition Commission of India (CCI) approved on Wednesday Flipkart’s acquisition of a minority stake in Aditya Birla Fashion and Retail Ltd (ABFRL). India´s e-commerce giant Flipkart proposed to acquire 7.8 percent stake in ABFRL through its wholly-owned subsidiary Flipkart Investments Private Ltd (FIPL).
Conversely, in October last year, Aditya Birla Fashion’s board had approved plans to issue a 7.8 percent stake on a preferential basis to Walmart-owned Flipkart Group. After the dilution of the 7.8 percent stake, the promoter and promoter group companies of ABFRL will hold around 55.13 percent stake.
Explore Now
Nifty futures on the Singapore Exchange traded 62.5 points, or 0.43 per cent, higher at 14,706.50 , in signs that Dalal Street was headed for a positive on Thursday. Here are a few stocks which may buzz the most in today s trade:
Asian Paints,
Bajaj Auto: Asian Paints, Bajaj Auto, SBI Card, Bandhan Bank,
Biocon, Mphasis, Kajaria Ceramics, MCX and Mphasis are some of the companies which will announce their Q3 results today.
Axis Bank: Fair trade regulator Competition Commission of India (CCI) said it has approved the stake acquisition in Max Life Insurance Company by Axis Bank, Axis Capital and Axis Securities.
CCI approves e-commerce giant Flipkart s acquisition of 7 8 percent stake in Aditya Birla Fashion firstpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from firstpost.com Daily Mail and Mail on Sunday newspapers.
Loading the player.
SEBI approves Reliance-Future deal, BSE grants no-adverse-observation status
Market regulator SEBI gave a go-ahead on Wednesday to Future Group s scheme of arrangement and sale of assets to Reliance, based on which the Bombay Stock Exchange also granted its no adverse observation report to the Rs 24,713-crore deal. Amazon had written several letters to the SEBI and other regulatory agencies to suspend their review of the deal and not grant it a no objection certification on ground that its challenge to the agreement was before the Delhi High Court.
Farmers protest: Govt offers to suspend farm laws for 18 months; next meeting on Jan 22
CCI approves Flipkart s acquisition of 7.8pc stake in Aditya Birla Fashion
Aditya Birla Fashion, in October last year, had approved plans to raise Rs 1,500 crore by issuing a 7.8 percent stake on a preferential basis to Walmart-owned Flipkart Group.
0 claps
7.8 percent minority stake in
Aditya Birla Fashion by
Aditya Birla Fashion, in October last year, had approved plans to
raise Rs 1,500 crore by issuing a 7.8 percent stake on a preferential basis to Walmart-owned Flipkart Group. Commission approves acquisition of a 7.8 percent minority stake in Aditya Birla Fashion and Retail Ltd by Flipkart Investments Private Ltd, the regulator said in a tweet.