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The book running lead managers for the Offer were Motilal Oswal Investment Advisors Limited, Avendus Capital Private Limited, HSBC Securities and Capital Markets (India) Private Limited and Nuvama Wealth Management Limited.
The firm advised prominent investors such as Elevation Capital, Peak Investments, Venture Highway, and Y Combinator. The issue opened on December 3 and closed on December 5, 2025.
The firm provided comprehensive transactional, structuring, and diligence support, marking AION’s full exit from Planetcast and its subsidiaries.
This deal marks a significant cross-border transaction in the Indian banking sector, underscoring continued global investor interest and strategic consolidation in the country’s financial services industry.
The SPA contemplates a sale of up to 50.1% of the shareholding held by True North in the Company, and will result in India Resurgence Fund acquiring control of the Company, and consequently, triggering a mandatory open offer under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.