The Competition Commision of India (CCI) has approved acquisition of additional equity shares in Hero FinCorp Ltd by Otter Limited and Link Investment Trust, according to the Ministry of Corporate Affairs.
As per a joint notice filed with CCI, Hero FinCorp, Otter, Link and certain other subscribers entered into a share subscription agreement in January, pursuant to which Otter and Link propose to acquire certain additional equity shares in Hero FinCorp.
Otter is a Mauritius-based investment company while Link Investment is a private trust registered in India and is engaged in making investments, as per a Ministry of Corporate Affairs release.
Hero FinCorp is a non-banking financial company engaged in the business of consumer finance and commercial lending, it added.
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