CCI has approved the proposal of Ola founders Bhavish Aggarwal and Ankit Bhati to acquire additional 6.72% stake in its parent entity, ANI Technologies.

The acquisition will be made through Singapore-incorporated Lazarus Holdings, a special purpose vehicle to be used as an investment holding company.

Earlier last month, the founders and MacRitchie through Lazarus had proposed to buy shares from certain existing shareholders of ANI and sought CCI’s approval for this. MacRitchie Investments is an indirectly wholly owned subsidiary of Singapore-based investment company Temasek Holdings.