CCI Approves Strategic Investment in Bharti AXA Life by 360 ONE Fund and Bharti Life Ventures

The Competition Commission of India (CCI) has approved two significant transactions involving Bharti AXA Life Insurance Company Limited (BALIC).  

The approval covers: (i) the acquisition of certain equity shares of BALIC by 360 ONE Private Equity Fund (360 Fund) through its schemes or affiliates, and (ii) the subscription of additional equity shares in BALIC by both 360 Fund and Bharti Life Ventures Private Limited (BLVPL). 

Strategic Equity Acquisition in Bharti AXA Life Insurance 

As per the proposal, the transaction will be executed in two stages. First, 360 Fund will acquire equity shares in BALIC from the existing shareholder, BLVPL. Following this, both 360 ONE and BLVPL will subscribe to new equity shares issued by BALIC, resulting in a fresh infusion of capital into the life insurance provider. 

360 Fund is registered with the Securities and Exchange Board of India (SEBI) as a Category II Alternative Investment Fund. It is designed to invest across various sectors in India and globally. The fund is managed by 360 ONE Alternates Asset Management Limited (360 AAML), which is a wholly owned subsidiary of 360 ONE WAM Limited. Collectively, 360 Fund and 360 AAML are referred to as “360 ONE.” 

About Bharti AXA Life Insurance Company Limited 

BLVPL, a part of the Bharti Group, is the holding company of BALIC and plays a key role in the group’s financial services ventures. BALIC itself is an unlisted public limited company engaged in the life insurance sector, offering various life insurance products to customers in India. 

Also Read: CCI Clears Bharat Forge’s Acquisition of AAM India Manufacturing! 

Conclusion 

The approval from the CCI paves the way for a strategic partnership between Bharti Group and 360 ONE, aimed at further strengthening the capital base and operational capabilities of Bharti AXA Life Insurance. This move could potentially enhance product innovation and customer service within the life insurance segment. 

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