Cyril Amarchand Mangaldas (CAM) and Veritas Legal advised on Kedaara Capital’s INR 750 crore investment in Axis Finance.

Kedaara Capital has agreed to invest INR 750 crore in Axis Finance, a wholly owned subsidiary of Axis Bank.

The transaction involves a proposed primary investment by Kedaara Capital through two entities — Kedaara Capital Fund IV AIF and Kedaara Pearl Holding, comprising a subscription to approximately 5% of the issued and subscribed share capital of Axis Finance.

Axis Finance is registered as a systemically important non-deposit taking NBFC with the Reserve Bank of India and is classified as an NBFC-Middle Layer.

Cyril Amarchand Mangaldas is advising Axis Finance Limited and Axis Bank Limited on the transaction.

The deal team was led by Partner Pranjita Barman, with support from Principal Associate Anirud Sudarsan R and assistance from Senior Associates Ayushi Agrawal and Shravan Belsare, and Associates Subhalaxmi Hota, Raajash Kulmi, Pooja V and Abhishek Chandel, advising on structuring and transaction documentation aspects.

Senior Partner L. Viswanathan provided strategic inputs.

Partner Gaurav Gupte, with assistance from Associate Ilina Peehu, advised on regulatory aspects of the transaction, including the investment agreement.

The vendor due diligence team was led by Partner Pranjita Barman, with support from Principal Associates Anirud Sudarsan R and Shaleen Tiwari; Senior Associates Soumyaditya Dasgupta, Ayushi Agrawal and Shravan Belsare; and Associates Subhalaxmi Hota, Saakshi Tibrewal, Raajash Kulmi, Pooja V and Abhishek Chandel.

Partner Soumya Kumar, with assistance from Principal Associate Ankita Sharma and Associates Nilavan S and Shivika Gupta, advised on employment law aspects of the due diligence.

Partner and Co-Head – Digital | TMT Arun Prabhu, with assistance from Senior Associate Nidhi Jhawar and Associates Mansi Jain and Kanav Khanna, advised on IT and intellectual property aspects.

Partner Vijay Pratap Singh Chauhan, with assistance from Senior Consultant Anshul Jain, Senior Associate Ananya Mahant and Associate Varun S, advised on competition law aspects.

Veritas Legal, Advocates and Solicitors advised Kedaara Capital on the proposed acquisition of a minority stake in Axis Finance Limited.

Founding and Managing Partner Abhijit Joshi provided strategic inputs and overall guidance on the transaction.

The transaction team comprised Natasha Sethna, along with Avadhoot Potnis, Kashish Gupta and Dhruv Mehta. The due diligence team comprised Ashwin Mehta, Anamika, Akriti Gupta, Hriday Chokshi, Vidhi Basrani and Devishi Sarawgi.