CCI clears stake acquisition in VVDN Tech by IBEF

New Delhi: The Competition Commission of India (CCI) on Monday said it has cleared the stake acquisition in VVDN Technologies by IBEF-IV under the green channel route. India Business Excellence Fund – IV (IBEF-IV) is a Sebi-registered alternative investment fund (AIF).

The proposed combination relates to the acquisition of shareholding by the IBEF-IV through a combination of secondary share purchases of equity shares and subscription to compulsorily convertible debentures of VVDN Technologies, according to CCI.