Cyril Amarchand Mangaldas (“CAM”) is advising Axis Finance Limited (“Company”) and Axis Bank Limited (“Bank”) on the proposed investment of INR 750 Crores in the Company by Kedaara Capital (investing through two entities, one being a resident entity and the other being a non-resident entity, i.e., Kedaara Capital Fund IV AIF and Kedaara Pearl Holding, respectively) (collectively, the “Investors”).
The Company is a public limited company registered as a systemically important non-deposit taking NBFC with the Reserve Bank of India and is classified as a NBFC – Middle Layer (NBFC-ML). As on the execution date, the Bank holds 100% (one hundred percent) of the share capital of the Company, and the Company is a wholly owned subsidiary of the Bank. The transaction involves a proposed primary investment by the Investors in the Company as growth capital, comprising a subscription to approximately 5% of the issued and subscribed paid-up share capital of the Company, for an aggregate consideration of approximately INR 750 Crores (“Proposed Transaction”).
Deal team led by Pranjita Barman, Partner; with support from Anirud Sudarsan R, Principal Associate and assistance from Ayushi Agrawal and Shravan Belsare, Senior Associates; Subhalaxmi Hota, Raajash Kulmi, Pooja V and Abhishek Chandel, Associates; advised on key considerations for structuring and finalizing binding documentation for the Proposed Transaction.
L Vishwanathan, Senior Partner; provided strategic inputs.
Gaurav Gupte, Partner; with the assistance from Ilina Peehu, Associate; advised the Bank on regulatory aspects of the Proposed Transaction, including the IA.
Pranjita Barman, Partner; with support from Anirud Sudarsan R, and Shaleen Tiwari, Principal Associates; Soumyaditya Dasgupta, Ayushi Agrawal and Shravan Belsare, Senior Associates; Subhalaxmi Hota, Saakshi Tibrewal, Raajash Kulmi, Pooja V and Abhishek Chandel, Associates; undertook vendor due diligence of the Company.
Sowmya Kumar, Partner; with the assistance from Ankita Sharma, Principal Associate; Nilavan S and Shivika Gupta, Associates; assisted with the employment law related aspects of the vendor due diligence.
Arun Prabhu, Partner; (Co-Head – Digital | TMT); with the assistance from Nidhi Jhawar, Senior Associate; Mansi Jain and Kanav Khanna, Associates; assisted with the IT/ IP related aspects of the vendor due diligence.
Vijay Pratap Singh Chauhan, Partner; with the assistance from Anshul Jain, Senior Consultant, Ananya Mahant, Senior Associate, and Varun S, Associate; advised on competition law aspects.
