CCI Approves Naspers Ventures' Acquisition of Stake in Vastu Housing Finance Corp Ltd

Naspers Ventures B.V., a wholly owned subsidiary of Prosus N.V., is an investment holding company primarily engaged in providing direct and indirect equity and debt funding.

The Competition Commission of India (CCI) has given the green light to Naspers Ventures B.V. for its proposed acquisition of a stake in Vastu Housing Finance Corporation Limited (VHFCL).

Naspers Ventures B.V., a wholly owned subsidiary of Prosus N.V., is an investment holding company primarily engaged in providing direct and indirect equity and debt funding. The proposed transaction involves acquiring less than 10% of the equity shareholding in VHFCL, based on a fully diluted basis.

Vastu Housing Finance Corporation Limited is a financial institution specializing in home loans, home extension loans, plot and construction loans, and loans against property, as well as micro and SME loans. VHFCL also has a subsidiary, Vastu Finserve India Private Limited, which offers a range of financial products including car loans, commercial vehicle loans, tractor loans, and construction equipment loans.

The acquisition will provide Naspers Ventures with a minority stake in VHFCL, supporting its strategic investment interests.