Cyril Amarchand Mangaldas (“CAM“) advised TPG on it’s multi-billion dollar joint venture with TCS to create energy efficient AI Data Centers in India as the Tata Group flagship marches on in its journey to become “the world’s largest AI-led technology services firm”. TPG and TCS will together invest around 2 billion dollars into the joint venture, with additional capital, currently estimated to be in the range of a further 4-5 billion dollars, to be raised as debt.
This is one of the largest private equity investments in the sector in India.
The transaction was led by Iqbal Khan, Lead Partner; Ashid Basheer, Partner; with support from Pranav Tolani, Principal Associate; Pranav Bajaj, Associate; Shreya Mukherjee, Associate; Gunjan Singh, Associate; Ishaan Kulshrestha, Associate; and Raviraj Zinzuvadia, Associate.
Avaantika Kakkar, Partner (Head – Competition); with the assistance from Rajat Sharma, Senior Associate; advised on competition law aspects of the transaction.
Sairam Subramanian, Partner; with the assistance from Saloni Shah, Principal Associate — Designate; advised on disputes aspects of the transaction.
Cyril Shroff, Managing Partner; provided strategic inputs.
L. Viswanathan, Senior Partner; provided inputs on the structure.