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CCI approves the acquisition of equity in India Business Excellence Fund - IV by VVDN Technologies

Published: Dec 11, 2024

By TIOLCorplaws News Service

NEW DELHI, DEC 11, 2024: THE 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).

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