Cyril Amarchand Mangaldas (“CAM”) acted as a legal counsel to Peak XV Partners Growth Investments IV on their acquisition of stake in Plum Benefits Private Limited, comprising of subscription of new compulsorily convertible preference shares issued by Plum Benefits Private Limited and acquisition of existing compulsorily convertible preference shares from certain existing shareholders of Plum Benefits Private Limited.
The transaction was led by Anu Tiwari, Partner (Head – Fintech and Financial Services); and Pranjita Barman, Partner; with support from Ayushi Agrawal, and Shravan Belsare, Senior Associates; Subhalaxmi Hota and Raajash Kulmi, Associates. The CAM team advised on various transaction documents and the regulatory framework governing Plum Benefits Private Limited and its subsidiary, Plum Benefits Insurance Brokers Private Limited, an insurance broker registered with the Insurance Regulatory and Development Authority of India.