India-Japan Fund
CCIC-2024/02/1117
A compact analysis
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PUBLIC VERSION
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Summary
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[In terms of Regulation 13(1A) of the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011 (as amended)]
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A. Name of the parties to the combination.
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- Names of the parties to the combination being notified through this Notification Form are:
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- a. India - Japan Fund ( IJF/Acquirer )
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- b. Mahindra Last Mile Mobility Limited ( MLMML/Target )
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B. Nature and purpose of the combination.
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- The Acquirer proposes to acquire between 6.06 - 8.25% of the total paid up share capital (on a fully diluted basis) of MLMML ( Proposed Transaction ). The Proposed Transaction is structured as an acquisition and falls under Section 5(a) of the Competition Act.
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- The purpose of the Proposed Transaction is to further IJF’s investment objective of investing in India’s environmental preservation sector, including renewable energy, e-mobility businesses, and circular economy sectors such as waste management, and water. The Proposed Transaction will help IJF further its goals by creating value for the broader market for 3-wheeled electric vehicles, clean mobility transport solutions, and technology-led last mile transport vehicles.
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