New Delhi: The Competition Commission of India on Tuesday approved private equity firm Kedaara Capital's proposal to acquire a stake in Axis Finance for Rs 750 crore.
Axis Finance Limited (AFL) is a non-banking financial company and wholly-owned subsidiary of private sector lender Axis Bank.
Mumbai-based Kedaara Capital is acquiring a stake in Axis Finance through its two affiliates - Kedaara Pearl Holding and Kedaara Capital Fund IV AIF.
Also Read: Axis Finance raises Rs 750 crore from Kedaara Capital via preferential issuance
Fair trade regulator CCI said it has cleared the proposed deal.
"CCI approves subscription of certain equity shareholding by Kedaara Pearl Holding and Kedaara Capital Fund IV AIF in Axis Finance Limited," the regulator said in a post on X.
In April, Axis Finance said that its Board approved a proposal to raise Rs 750 crore primary capital from Kedaara Capital via a preferential issuance.
"This is in addition to the Rs 1,500 crore primary raise via a rights issue that was approved by Axis Finance's board of directors on April 17, 2026," the company said.
This landmark capital mobilisation is AFL's largest primary raise to date, as well as its first-ever funding from an external investor, it added.
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Deals beyond a certain threshold require approval from the regulator, which keeps a watch on unfair business practices and promotes fair competition in the marketplace.
