The Competition Commission of India has approved a proposed combination involving Jumbotail Technologies Pvt Ltd (JTPL), Standard Chartered Research and Technology India Pvt Ltd (SCRTIPL), SC Ventures Holdings Ltd, Solv-India Pte Ltd, SCV Master Holding Company Pte Ltd, Artal Asia Pte Ltd, and the founders of JTPL.

The combination includes the complete acquisition of SCRTIPL by JTPL, share issuance by JTPL to SC Ventures and Solv-India, and share subscription by SCV Master, Artal Asia and the founders. Artal Asia and the founders will also support investment obligations of other entities.

JTPL operates a wholesale online marketplace with value-added services. SCRTIPL runs the ‘Solv’ platform, serving Micro, Small and Medium Enterprises with B2B transactions, payments, and credit services.

SC Ventures and SCV Master do not operate directly in India but are involved via subsidiaries. Solv-India is a holding entity without business activity. Artal Asia invests in e-commerce and grocery firms, holding an indirect stake in India through JTPL. The founders focus on running the JTPL Group.

A detailed order from the Commission will be released shortly.

Source: Press Information Bureau (PIB) Delhi