Competition Commission of India on Tuesday approved the acquisition of the stake in IIFL Wealth Management by BC Asia Investments X Ltd. The proposed combination involves the acquisition of up to 24.98 per cent shareholding of IIFLWM by BC Asia Investments X Limited, a notice issued by the anti-trust regulator said. BC Asia Investments X Ltd is indirectly held by Bain Capital Investors LLC (Bain Private Equity), Bain Capital Credit Member LLC and Bain Capital Member II (together Bain Credit) and the Canadian Pension Plan Investment Board (CPPIB).
In a tweet on Tuesday, Competition Commission of India (CCI) said it has approved the "acquisition of up to 24.98 per cent shareholding in IIFLWM by BC Asia".
Bain Private Equity is a private equity firm that invests in companies across many industries.