CCI approves Caladium's acquisition of a 7.49% stake in Aditya Birla Fashion and Retail

26 Mar 2024 , 03:14 PM

On Tuesday, the Competition Commission of India (CCI) approved Caladium Investment, a GIC Investor, buying a 7.49% interest in Aditya Birla Fashion and Retail.

A special purpose vehicle called GIC Investor, organized in Singapore as a private limited company is a member of a group of investment holding companies run by GIC Special Investments Private Limited (GICSI)

The antitrust watchdog said in a statement that it has approved Caladium Investment Ltd.’s roughly 7.49% stake in Aditya Birla Fashion and Retail Limited on a fully diluted basis through the preferential issue of shares and warrants.

Lathe Investment Private Limited, a company that is completely controlled by GIC (Ventures) Private Limited, is the only owner of Caladium Investment.

Aditya Birla Fashion and Retail Limited, is a publicly-traded company that operates throughout India through its retail stores, as well as distribution through its exclusive brand outlets and Pantaloons stores, multi-brand outlets, shop-in-shop stores across departmental stores, own online retail platforms, and third-party e-commerce marketplaces, is involved in the manufacture and retailing of branded apparel, footwear, and accessories.

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