Skip to main content

news

 

Indian law firm Cyril Amarchand Mangaldas has advised private equity firm Multiples in its investment in Aditya Birla Group’s microfinance non-banking financial company, Svatantra Microfin, which was represented by Khaitan & Co. Multiples, along with Advent International, will invest 19.3 billion rupees ($233 million).

This deal, signed on March 4, is the largest private equity investment in India’s microfinance sector. The deal also signals the return of private equity financing in the country, which appeared to have dried up in recent years.

The corporate team from CAM that led the transaction included partners Aditi Manchanda and Srabanee Ghosh. The team also included Adhiraj Gupta, principal associate; Subhashini Narayanan, senior associate; Sudarshan Srikanth, associate; Utkarsh Roy, associate; Maya Venkiteswaran, associate; and Jeezan Pakhliwal, associate.

Antitrust partner Kirthi Srinivas assisted on the competition aspects of the deal.

Khaitan’s team was led by partner Saswat Subasit.

CAM and Khaitan had last year guided the sale of Navi Group’s microfinance subsidiary Chaitanya India Fin Credit to Svatantra Microfin for $180 million, which made the Ananya Birla-run entity the second largest microfinance NBFC in the country.

 

TO CONTACT EDITORIAL TEAM, PLEASE EMAIL ALBEDITOR@THOMSONREUTERS.COM

Related Articles

Khaitan, SAM, Freshfields act on $195 mln Bharat Forge QIP

by Nimitt Dixit |

Indian law firm Khaitan & Co advised Bharat Forge, a leading Indian forging company, on its $195 million equity offering through a qualified placement of shares. Freshfields and Shardul Amarchand Mangaldas & Co advised the bookrunning lead managers.

SAM, Trilegal, Sidley, W&C act on $415 mln Brookfield REIT QIP

by Nimitt Dixit |

Shardul Amarchand Mangaldas & Co and Sidley Austin have advised their longstanding client Brookfield India Real Estate Trust (BIRET) on its $415 million equity offering through a qualified institutional placement of shares – the only QIP by an Indian REIT in 2024.

NRF advises Carlsberg on $744 mln South Asia acquisition

Global law firm Norton Rose Fulbright has advised Denmark’s Carlsberg Breweries on its $744 million acquisition of the remaining 33.33 percent stake in its Indian and Nepalese operations from partner CSAPL.