Shardul Amarchand Mangaldas advised Titan Company Limited (“Titan”) on the proposed acquisition of remaining 27.5% founders stake in Caratlane Trading Pvt. Ltd. This represents one of the largest e-commerce transactions in India.
The deal was valued at Rs. 17,000 crore in equity, with a purchase consideration of approximately Rs 4,600 crore. The share purchase agreement was executed on 19 August 2023 and will close after receipt of necessary approvals.
The transaction team was led by Manav Nagaraj, Partner, Mithila Hari, Senior Associate. The competition law team was led by Shweta Shroff Chopra, Partner; Manika Brar, Partner; Pranav Satyam, Special Advisor; Devahuti Pathak, Associate; Arjav Kulshreshtha, Associate. Nikhil Naredi, Partner and Deepika Goyal, Principal Associate advised on LODR and other compliances applicable to a listed company.
Ramanathan & Vahanvati — (Essaji Vahanvati and Siddharth Prasad) and Axiom5 Law Chambers (Samir Gandhi and Rahul Rai) advised the sellers.
About Shardul Amarchand Mangaldas & Co.:
Shardul Amarchand Mangaldas & Co., founded on a century of legal achievements, is one of India's leading full-service law firms. The Firm's mission is to enable business by providing solutions as trusted advisers through excellence, responsiveness, innovation, and collaboration. SAM & Co. is known globally for its exceptional practices in mergers & acquisitions, private equity, competition law, insolvency & bankruptcy, dispute resolution, capital markets, banking & finance, and projects & infrastructure.
The Firm has a pan-India presence and has been at the helm of major headline transactions and litigations in all sectors, besides advising major multinational corporates on their entry into the Indian market and their business strategy. Currently, SAM has around 812 lawyers including 163 Partners, offering legal services through its offices in New Delhi, Mumbai, Gurugram, Ahmedabad, Kolkata, Bengaluru, and Chennai.