Cyril Amarchand Mangaldas advised International Finance Corporation (“IFC”) in relation to its proposed follow-on investment in Mahindra Last Mile Mobility Limited (the “Company”), a subsidiary of Mahindra & Mahindra Limited, pursuant to the exercise of their pre-emptive rights, as part of a funding round aggregating to approx. INR 322 Crores, led by Lightrock Cayman Holdings Limited with participation from IFC and the India-Japan Fund, at a post-money equity valuation of approx. INR 10,822 Crores (the “Transaction”). The Transaction is proposed to be completed in tranches and remains subject to regulatory approvals.
The transaction was led by Srabanee Ghosh and Supriya Aakulu, Partners; with support from Ketan Jain, Senior Associate; and Induja Sharma, Associate.
Dhruv Rajain, Partner; with support from Shruti Avinash, Associate; advised on competition law aspects of the transaction.
