CCI approves the acquisition of shareholding in India Business Excellence Fund – IV by VVDN Technologies Private Limited
Competition Commission of India approved the acquisition of shareholding in India Business Excellence Fund – IV by VVDN Technologies Private Limited. India Business Excellence Fund – IV ( Acquirer ) is a Category II alternative investment fund registered with the Securities and Exchange Board of India. It primarily invests in equity and equity-linked instruments and/or debt and/or mezzanine or other instruments of Indian or India related companies. It is a sector-agnostic fund, providing growth capital to mid-sized companies. VVDN Technologies Private Limited ( Target ) is engaged in the business of providing Electronic Manufacturing Services ( EMS )/ Original Design Manufacturing ( ODM ) services. The Target provides its EMS/ ODM services to both domestic and global customers in the following business verticals: 5G, networking & Wi-Fi, Internet of Things, camera-based solutions, cloud-based solutions, and data centre infrastructure. The Proposed Combination relates to acquisition of shareholding by the Acquirer in the Target through a combination of secondary share purchases of equity shares and subscription to compulsorily convertible debentures ( Proposed Combination ). Detailed order of the Commission will follow. **** NB/AD Competition Commission of India approved the acquisition of shareholding in India Business Excellence Fund – IV by VVDN Technologies Private Limited. India Business Excellence Fund – IV ( Acquirer ) is a Category II alternative investment fund registered with the Securities and Exchange Board of India. It primarily invests in equity and equity-linked instruments and/or debt and/or mezzanine or other instruments of Indian or India related companies. It is a sector-agnostic fund, providing growth capital to mid-sized companies. VVDN Technologies Private Limited ( Target ) is engaged in the business of providing Electronic Manufacturing Services ( EMS )/ Original Design Manufacturing ( ODM ) services. The Target provides its EMS/ ODM services to both domestic and global customers in the following business verticals: 5G, networking & Wi-Fi, Internet of Things, camera-based solutions, cloud-based solutions, and data centre infrastructure. The Proposed Combination relates to acquisition of shareholding by the Acquirer in the Target through a combination of secondary share purchases of equity shares and subscription to compulsorily convertible debentures ( Proposed Combination ). Detailed order of the Commission will follow. **** NB/AD