CCI Approves Jumbotail’s Acquisition of Standard Chartered Research Tech India, ET LegalWorld

The Competition Commission of India on Tuesday cleared a multi-layered deal involving Bengaluru-based Jumbotail Technologies’ proposed acquisition of Standard Chartered Research and Technology India. Jumbotail Technologies is engaged in the business of an online marketplace facilitating the wholesale and distribution of products.

“The proposed combination pertains to the acquisition of 100 per cent shareholding in SCRTIPL (Standard Chartered Research and Technology India Pvt Ltd) by JTPL (Jumbotail Technologies Pvt Ltd),” CCI said in a release.

SCRTIPL operates ‘Solv’, which is an online B2B platform facilitating MSMEs to sell their products to retailers and other businesses.

“CCI approves proposed combination involving, inter alia, Jumbotail Technologies Pvt Ltd, Standard Chartered Research and Technology India Pvt Ltd, Solv-India Pte Ltd, SCV Master Holding Company Pte Ltd, Artal Asia Pte Ltd. and founders of JTPL,” CCI said in a post on X.

The regulator has also granted its approval for the issuance of certain shares of JTPL to SC Ventures Holdings (SC Ventures) and Solv-India.

SC Ventures as an entity does not have any business activity in India and is only present through its indirect subsidiaries in relation to the online B2B business and other businesses and Solv-India is an intermediary holding company of SCRTIPL.

Additionally, SCV Master Holding Company and Artal Asia will subscribe to certain shares in JTPL, the release said.

Singapore-based Artal Asia invests in late-stage companies in e-commerce, food and beverage and grocery industries, and has an indirect business presence in India through its affiliate entities (including JTPL).

In March, SC Ventures, Standard Chartered’s innovation, fintech investment and ventures arm, said it has agreed to the acquisition of its incubated venture, Solv India, by Jumbotail.

In a separate release, fair trade regulator CCI announced approving the proposed acquisition of 100 per cent shareholding of Dowlais Group Plc by American Axle & Manufacturing Holdings, Inc.

American Axle & Manufacturing Holdings is the Ultimate Parent Entity (UPE) of the AAM group.

AAM group is engaged in the design, engineering, and manufacture of drive transmission components. In India, the AAM group is engaged in the supply of drive transmission components and metal automotive components.

Dowlais Group Plc is the UPE of the Dowlais group. Globally, the group is engaged in the development of driveline products, the production of sintered metal products for the automotive and industrial sectors.

In India, the Dowlais group is engaged in the supply of drive transmission components and metal automotive components.

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

• Published On May 27, 2025 at 10:07 PM IST

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