The Competition Commission of India (CCI) has approved the proposed acquisition of a 15 per cent shareholding in Edelweiss Asset Management Limited (EAML) and Edelweiss Trusteeship Company Limited (ETCL) by Setu AIF Trust, Konark Trust, and MMPL Trust.

The transaction involves a series of interconnected steps leading to the acquisition of up to 15 per cent of the equity in both EAML and ETCL.

Setu AIF Trust is a Category II Alternative Investment Fund (AIF) registered with the Securities and Exchange Board of India (SEBI) under the AIF Regulations and operates through its investment manager, MMPL.

Edelweiss Asset Management Limited, incorporated on 23 August 2007 under the Companies Act, 1956, is an unlisted public company serving as the asset management company for Edelweiss Mutual Fund (EMF). Its activities include fund design, portfolio management, investor servicing, and regulatory compliance. The company also provides portfolio management services and is registered as a fund management entity with the International Financial Services Centres Authority (IFSCA) at GIFT City.

Edelweiss Trusteeship Company Limited, incorporated under the Companies Act, 1956, serves as the trustee for Edelweiss Mutual Fund.

The detailed order of the Commission will be released in due course.