Date: 2025-05-27Category: Not ApplicableState: Union GovernmentCountry: India
CCI approves the proposed combination involving Jumbotail Technologies Pvt. Ltd. (JTPL), Standard Chartered Research and Technology India Pvt. Ltd. (SCRTIPL), SC Ventures Holdings Limited (SC Ventures), Solv-India Pte. Ltd. (Solv-India), SCV Master Holding Company Pte. Ltd. (SCV Master), Artal Asia Pte Ltd. (Artal Asia), and founders of JTPL, namely Mr. Subramanian Karthik Venkateswaran and Mr. Ashish Jhina
The Competition Commission of India (CCI) has approved a proposed combination involving Jumbotail Technologies Pvt. Ltd. (JTPL), Standard Chartered Research and Technology India Pvt. Ltd. (SCRTIPL), SC Ventures Holdings Limited, SolvIndia Pte. Ltd., SCV Master Holding Company Pte. Ltd., Artal Asia Pte Ltd, and the founders of JTPL, Mr. Subramanian Karthik Venkateswaran and Mr. Ashish Jhina. The combination involves: (i) JTPL's acquisition of 100% shareholding in SCRTIPL; (ii) issuance of JTPL shares to SC Ventures and SolvIndia; (iii) subscription of JTPL shares by SCV Master and Artal Asia; and (iv) subscription of JTPL shares by Artal Asia and the founders. JTPL operates an online marketplace for wholesale distribution, while SCRTIPL operates Solv, a B2B platform for Micro, Small, and Medium Enterprises. Other entities in the combination have varying levels of direct or indirect business presence in India, primarily related to online B2B activities.
Key Entities Referenced
Competition Commission of India: Regulatory body that approved the combination.
CCI: Abbreviation for Competition Commission of India.
Jumbotail Technologies Pvt. Ltd.: One of the companies involved in the combination; abbreviated as JTPL.
JTPL: Abbreviation for Jumbotail Technologies Pvt. Ltd.
Standard Chartered Research and Technology India Pvt. Ltd.: One of the companies involved in the combination; abbreviated as SCRTIPL.
SCRTIPL: Abbreviation for Standard Chartered Research and Technology India Pvt. Ltd.
SC Ventures Holdings Limited: One of the companies involved in the combination; abbreviated as SC Ventures.
SC Ventures: Abbreviation for SC Ventures Holdings Limited.
SolvIndia Pte. Ltd.: One of the companies involved in the combination; abbreviated as SolvIndia.
SolvIndia: Abbreviation for SolvIndia Pte. Ltd.
SCV Master Holding Company Pte. Ltd.: One of the companies involved in the combination; abbreviated as SCV Master.
SCV Master: Abbreviation for SCV Master Holding Company Pte. Ltd.
Artal Asia Pte Ltd: One of the companies involved in the combination; abbreviated as Artal Asia.
Artal Asia: Abbreviation for Artal Asia Pte Ltd.
Subramanian Karthik Venkateswaran: One of the founders of JTPL.
Ashish Jhina: One of the founders of JTPL.
27 MAY 2025: Date of the post.
PIB Delhi: Source of the information.
Solv: Online B2B platform operated by SCRTIPL.
India: Country where SC Ventures and SCV Master have indirect business presence.
Singapore: Location of Artal Asia.
JTPL Group: The business operated and managed by the Founders.
NBAD Release ID: 2131761: Release ID
Competition Commission of India
CCI approves the proposed combination involving
Jumbotail Technologies Pvt. Ltd. (JTPL), Standard
Chartered Research and Technology India Pvt. Ltd.
(SCRTIPL), SC Ventures Holdings Limited (SC
Ventures), Solv-India Pte. Ltd. (Solv-India), SCV
Master Holding Company Pte. Ltd. (SCV Master),
Artal Asia Pte Ltd. (Artal Asia), and founders of
JTPL, namely Mr. Subramanian Karthik
Venkateswaran and Mr. Ashish Jhina
Posted On: 27 MAY 2025 7:57PM by PIB Delhi
The Competition Commission of India has approved the proposed combination involving Jumbotail
Technologies Pvt. Ltd. (JTPL), Standard Chartered Research and Technology India Pvt. Ltd. (SCRTIPL), SC
Ventures Holdings Limited (SC Ventures), Solv-India Pte. Ltd. (Solv-India), SCV Master Holding Company
Pte. Ltd. (SCV Master), Artal Asia Pte Ltd. (Artal Asia), and founders of JTPL, namely Mr. Subramanian
Karthik Venkateswaran and Mr. Ashish Jhina .
The Proposed Combination pertains to:
(i) acquisition of 100% shareholding in SCRTIPL by JTPL;
(ii) issuance of certain shares of JTPL to SC Ventures and Solv-India;
(iii) subscription of certain shares in JTPL by SCV Master and Artal Asia;
(iv) subscription of certain shares in JTPL by Artal Asia and Founders, who have agreed to backstop the
investment obligations of certain other entities.
JTPL is engaged in the business of an online marketplace facilitating the wholesale and distribution of
products; and providing certain ancillary services to the sellers and buyers of the products on its platform.
SCRTIPL operates ‘Solv’, which is an online B2B platform facilitating Micro, Small, and Medium
Enterprises to sell their products to retailers and other businesses; and provides ancillary services such as
payment collection and credit solutions to the users of its platform ‘Solv’.
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.
Solv-India is an intermediary holding company of SCRTIPL and does not have any business activity of its
own.
SCV Master as an entity does not have any direct business activity in India and is only present through its
direct and indirect subsidiaries in relation to the online B2B business and other businesses.
Artal Asia is based out of Singapore and 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 (includingJTPL).
The Founders are only engaged in the business of operating and managing the JTPL Group.
Detailed order of the Commission will follow.
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NB/AD
(Release ID: 2131761)