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The Competition Commission of India (CCI) on Tuesday okayed the acquisition of around 7.49 per cent stake in Aditya Birla Fashion and Retail by Caladium Investment, a GIC Investor.

GIC Investor is a special purpose vehicle organised as a private limited company in Singapore that is part of a group of investment holding companies managed by GIC Special Investments Private Limited (GICSI).

"Competition Commission approves acquisition of approximately 7.49 per cent shareholding in Aditya Birla Fashion and Retail Limited on a fully diluted basis by Caladium Investment Pte. Ltd (GIC Investor) by way of preferential issuance of equity and warrants," a statement issued by the competition watchdog said.

Caladium Investment is wholly-owned by Lathe Investment Private Limited, an entity which is in turn wholly-owned by GIC (Ventures) Private Limited.

Aditya Birla Fashion and Retail Limited is a publicly listed company which along with its subsidiaries is engaged in the manufacture and retailing of branded apparel, footwear and accessories and operates across India through its retail stores, as well as distribution through its exclusive brand outlets and Pantaloons stores, multi-brand outlets, shop-in-shop stores across departmental stores, own online retail platforms and third-party e-commerce marketplaces.