The Competition Commission of India (CCI) has approved the stake purchase of Ambit Pvt Ltd by Daiwa International Holdings. Daiwa International Holdings is a Japan-based intermediary management holding company, while Ambit Pvt Ltd is a registered merchant banker offering various financial services. In May, Daiwa International Holdings announced its intention to purchase a minority stake in Ambit.
Deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices. The approval by CCI is an important step for Daiwa International Holdings, as it looks to increase its presence in India. The acquisition will expand its portfolio in the Indian banking sector, and provide the company with greater opportunities for profit.
The news comes at a time when India is launching the ONDC initiative to empower small and medium businesses. The initiative aims to provide digital infrastructure to small and medium businesses across the country. It is seen as a major boost to the Indian economy, which has struggled amid the COVID-19 pandemic.
Overall, the acquisition of Ambit Pvt Ltd is a significant step forward for Daiwa International Holdings. It is likely to boost the company’s profits in the coming years, and strengthen its position in the Indian banking sector. With approvals from CCI in place, the company can now move forward with its plans and set the stage for future growth.
