CCI approves acquisition of Annapurna Finance’s Shareholding by Piramal Alternatives Trust
The Competition Commission of India (CCI) recently approved the acquisition of Annapurna Finance Private Limited’s Shareholding of 10.39% and its certain debentures’s subscription by Piramal Alternatives Trust.
Piramal Enterprises Ltd belonged trust Piramal Alternatives is a business of fund management that provides financing solutions to high-end corporates via various options like;
a) Piramal Credit Fund – which is a performing sector-agnostic credit fund.
b) IndiaRF – a distressed asset investing platform that deals in investment in equity and debt across non-real estate sectors.
Annapurna Finance Private Limited is a non-banking financial company registered with the Reserve Bank of India under the RBI Act 1934, which accepts non-deposit. The enterprise deals in microfinance and provides loans to micro-entrepreneurs and micro, small and medium enterprises in India and also covers the provision of affordable or low housing finance to Customers. Annapurna Finance is classified as an NBFC-micro finance institution.
