Major Stake Acquisition in Shiprocket Cleared by CCI

The Competition Commission of India has approved the acquisition of shareholding in logistics aggregator Shiprocket by MUFG Bank and Koch Group's KDT Venture Holdings. MUFG is a subsidiary of Mitsubishi UFJ Financial Group, while KDT is part of the American Koch Group. The decision allows the continuation of the investment, amidst Shiprocket's reported financial losses.

The Competition Commission of India (CCI) has given the green light for the proposed acquisition of shares in the logistics aggregator Shiprocket by two major entities: MUFG Bank and the American conglomerate Koch Group's venture capital arm, KDT Venture Holdings, LLC.

This move involves MUFG Bank, a subsidiary of the Mitsubishi UFJ Financial Group, and KDT Ventures, which is owned by Koch Industries, one of the largest private companies in the US. The acquisition signals significant international interest and investment in the burgeoning logistics platform operated by Shiprocket.

Shiprocket, which facilitates logistics services both domestically and internationally, reported a financial loss of Rs 595 crore in the financial year 2024, driven by restructuring costs and investments in new business lines. Approval by CCI underscores the importance of maintaining fair trade and competitive practices in the market.

(With inputs from agencies.)