Homegrown PE firm ChrysCapital get CCI nod to acquire stake in Nash Industries

India’s competition watchdog The Competition Commission of India (CCI) has cleared a proposal by homegrown private equity firm ChrysCapital to acquire a stake in Nash Industries (I) Pvt Ltd, marking regulatory approval for a transaction that brings together a domestic financial investor and a diversified electronics manufacturing platform.

In a release issued on Tuesday, the Competition Commission of India said it had approved the proposed combination involving the acquisition of certain equity share capital of Nash Industries by ChrysCapital through three of its affiliates—ChrysCapital Fund X, Two Infinity Partners, and Blue Wave Investments Limited. The entities invest across different sectors and together form part of the ChrysCapital Group.

“The proposed combination pertains to the acquisition by ChrysCapital Fund X, Two Infinity Partners and Blue Wave Investments Limited (collectively, the Acquirers) of certain equity share capital of Nash Industries (I) Private Limited (Target),” the regulator said in its statement.

The commission also confirmed the clearance in a post on X, stating: “Commission approves acquisition by ChrysCapital Fund X, Two Infinity Partners and Blue Wave Investments Limited, collectively, of certain equity share capital in Nash Industries (I) Private Limited.”

Nash Industries operates in the box build solutions and metal stamping segment. Based in Bengaluru, the company designs, manufactures, and supplies electronic components to customers across a wide range of sectors, including electrical and power protection, data centres, defence and aerospace, IT and AI-related hardware, healthcare products, and gaming.

Under India’s competition law framework, transactions that cross specified asset or turnover thresholds require prior approval from the CCI. The regulator reviews such deals to prevent unfair business practices and to ensure that market competition is not adversely affected.