The Competition Commission of India (“CCI”) vide Press Release No. 11/2025-26,[1] dated April 22, 2025, approved the proposed acquisition and subscription of equity shares in Bharti AXA Life Insurance Company Limited(“BALIC”) by 360 ONE Private Equity Fund (“360 Fund”) and Bharti Life Ventures Private Limited (“BLVPL”), marking a significant development in the Indian insurance and private equity space.
The proposed transaction involves two major components:
- Acquisition of equity shares in BALIC by 360 Fund from BLVPL; and
- Subscription to new equity shares of BALIC by both 360 Fund and BLVPL.
- Initially, the 360 Fund shall acquire certain equity shares of BALIC from its existing shareholder, BLVPL.
- Following this acquisition, both 360 Fund and BLVPL shall subscribe to additional equity shares in BALIC, thereby infusing fresh capital into the company.
The parties to the proposed transaction are as follows:
- 360 Fund is registered with SEBI as a Category II Alternative Investment Fund (AIF). It is structured to invest across various sectors within India and internationally. The fund operates through its schemes and affiliated entities.
- 360 ONE Alternates Asset Management Limited is the investment manager for 360 Fund and related entities. It is a wholly owned subsidiary and is ultimately controlled by 360 ONE WAM Limited. For the purposes of this transaction, 360 Fund and 360 AAML are collectively referred to as ‘360 ONE’.
- BLVPL is the holding company of BALIC and a part of the broader Bharti Group. BALIC is an unlisted public company incorporated in India and engaged in the business of life insurance.
[1] https://www.cci.gov.in/media-gallery/press-release/details/517/0