Separate teams from Cyril Amarchand Mangaldas acted as legal counsels on a Chinese wall basis on the acquisition by Alpha Wave Ventures of a 21.74% stake in I-Ven Realty Limited (“Target Company“), for an aggregate consideration of INR 1250 crores. The Target Company is a joint venture between Oberoi Realty Limited and Mr. Vikas Oberoi and is proposing to undertake development of a mixed-use real estate project over a 4-acre land parcel in Worli, Mumbai. As a part of the transaction, Oberoi Realty Limited and Mr. Vikas Oberoi also made further investments in the Target Company.
The team representing Alpha Wave Ventures was led by Reeba Chacko, Senior Partner; and Kota Chandan, Partner; with support from George Kurian, Principal Associate; and Nilanjana Nair, Associate.
Jinal Mehta, Partner; in the real estate practice of the Firm along with Yashvi Shah, Senior Associate; and Anjali Kadam, Associate; undertook title diligence of the underlying land and advised on real estate aspects of the deal.
Oberoi Realty Limited, Mr. Vikas Oberoi and the Target Company were advised by a team led by Ruetveij Pandya, Partner; with support from Abhilasha Malpani, Principal Associate, Manjri Singh, Associate; and Devanshi Gupta, Associate.
Rishiraj Bhatt, Partner; with support from Shivom Sharma, Senior Associate; and Rohan Shah, PA — Designate; assisted the sell side with real estate aspects of the transaction.
Mr. Cyril Shroff, Managing Partner; provided strategic guidance to the parties on key deal points.
The transaction documents were signed on 20th March, 2025.
