India: CCI approves Piramal Enterprises’ issue of CCDs to Canada's CDPQ

India: CCI approves Piramal Enterprises’ issue of CCDs to Canada's CDPQ

Photo: Reuters

The Competition Commission of India (CCI) on Tuesday allowed Piramal Enterprises Limited to issue compulsorily convertible debentures (CCD) to Caisse de dépôt et placement du Québec. Upon conversion, the Canadian pension fund’s stake in the Ajay Piramal company will rise to 8.99% from 3.68%.