CCI Approves Kedaara Capital's ₹750-Cr Stake Purchase Proposal in Axis Finance

• CCI has approved Kedaara Capital’s ₹750 crore investment in Axis Finance.

• The deal will be executed through Kedaara Pearl Holding and Kedaara Capital Fund IV AIF.

• The transaction is Axis Finance’s first funding from an external investor and its largest primary raise so far.

The Competition Commission of India on Tuesday approved private equity firm Kedaara Capital's proposal to acquire a stake in Axis Finance for ₹750 crore.

Axis Finance Limited (AFL) is a non-banking financial company and wholly-owned subsidiary of private sector lender Axis Bank.

Mumbai-based Kedaara Capital is acquiring a stake in Axis Finance through its two affiliates – Kedaara Pearl Holding and Kedaara Capital Fund IV AIF.

Fair trade regulator CCI said it has cleared the proposed deal.

"CCI approves subscription of certain equity shareholding by Kedaara Pearl Holding and Kedaara Capital Fund IV AIF in Axis Finance Limited," the regulator said in a post on X.

In April, Axis Finance said that its Board approved a proposal to raise ₹750 crore primary capital from Kedaara Capital via a preferential issuance.

"This is in addition to the ₹1,500 crore primary raise via a rights issue that was approved by Axis Finance's board of directors on April 17, 2026," the company said.

This landmark capital mobilisation is AFL's largest primary raise to date, as well as its first-ever funding from an external investor, it added.

Deals beyond a certain threshold require approval from the regulator, which keeps a watch on unfair business practices and promotes fair competition in the marketplace.