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Motilal Oswal Alternates receives Indian clearance to acquire shareholding in TPG-backed SK Finance

( October 31, 2023, 21:51 GMT | Official Statement) -- MLex Summary: Motilal Oswal Alternates received merger clearance to acquire shareholding in SK Finance, a Jaipur-based non-banking finance company, from the Indian competition watchdog on Tuesday. India Business Excellence Fund will make a minority investment in the TPG-backed finance company by subscribing to its equity shares and will also purchase outstanding equity shares from the promoter of the target company, Rajendra Kumar Setia, as well as Baring Private Equity India Fund, according to a statement issued by the Competition Commission of India. SK Finance reportedly plans to raise $122 million to ramp up its operations....

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