Bid for Religare Health Insurance equity shares
The Competition Commission of India (CCI) received from Trishikhar Ventures LLP a proposal for 18.951% acquisition of the equity share capital of the Religare Health Insurance Company Limited.
Trishikhar is a special purpose vehicle set up for the purposes of the Proposed Combination. The Acquirer is a part of the Kedaara Group which invests in a variety of companies through acquisitions and corporate restructurings.
Religare provides general insurance products relating to health segment, which comprises of health insurance, personal accident insurance and travel insurance.
Further, as per the Insurance Regulatory and Development Authority of India (General Insurance – Reinsurance) Regulations, 2016, it can also do inward reinsurance business.
The proposal is through green channel combination filed under sub-section (2) of Section 6 of the Competition Act, 2002 (Act) read with regulation 5A of the Competition Commission of India (Procedure in regard to the transactions of business relating to combinations) Regulations, 2011 (Combination Regulations). fiinews.com
