New Delhi: The Indian Competition Commission (CCI) on Monday gives its nodding for the proposed agreement involving the SoftBank group entity who buys food ordering shares and Swiggy shipping platforms.
SVF II Songbird (DE) LLC will obtain a percentage of certain share ownership in Bundl Technologies Pvt Ltd, according to the notifications submitted with regulators.
SVF belongs to Softbank Group and is a newly established entity set to make mid-term financial investment in the company.
Bundl is a personal limited company that is incorporated in India and is involved in Swiggy operations, according to notice.
The agreement tends to set Swiggy’s assessment at $ 5 billion, said Soura in April.
In a tweet on Monday, CCI said it had agreed to “proposed efforts from certain shares in the Bundl (SWIGGY) Technologies (SWIGGY) by SVF II Songbird (SOFTBANK Group Entity)”.
CCI approves Softbank Group Entity Buying Stake in Swiggy
