CCI approves merger of Blue Star's two group companies with itself

Air-conditioner maker Blue Star on Wednesday said the company has received an approval from fair trade regulator Competition Commission of India (CCI) for the merger of Blue Star Infotech and Blue Star Infotech Business Intelligence and Analytics with the company itself.

Earlier this month, the company had received a No Objection Certificate (NOC) from the stock exchanges for the composite Scheme of Amalgamation.

"The application filed jointly... with the Competition Commission of India for the Scheme of Amalgamation of Blue Star Infotech Ltd and Blue Star Infotech Business Intelligence & Analytics Private Ltd with the Company, the Commission in its meeting held on December 16, 2015, considered the proposed combination and approved the same," Blue Star said in a regulatory filing.

The company had reported a standalone loss of Rs 5.79 crore for the second quarter ended September 30.  

On Wednesday, the shares of Blue Star Infotech closed up at 1.31% or Rs 3.10 at Rs 239.50 per scrip on BSE.