Kotak and MOPE to announce Rs 8000 crore investment in VVDN soon

In February 2023, the Competition Commission of India had approved stake acquisition in VVDN by Kotak Funds and India Business Excellence Fund (IBEF) IV, a buyout fund managed by Motilal Oswal Private Equity under the green channel route. Under this route, a transaction which does not raise any risk of an appreciable adverse effect on competition is deemed to be approved on being intimated to the anti-trust regulator. “Given that there are no overlaps between the parties to the proposed combination. Additionally there are no horizontal, vertical, and complementary overlaps between the respective groups to which the acquirers belong and the target. “The proposed combination does not raise any risk of an appreciable adverse effect on competition in any relevant market and is being notified under the green channel route,” said an update on CCI website.

Motilal Oswal Private Equity (MOPE) had invested Rs 250 crore in VVDN way back in 2019.

VVDN Technologies had sought to raise about Rs 8000 crore from new and existing investors at valuation of Rs 4,000 crore. Kotak and MOPE have expressed faith in the engineering and contract manufacturing firm and are expected to announce their investment soon.

CT Bureau