AZB, Cyril Amarchand Mangaldas (CAM) along with Latham & Watkins advised on TPG’s INR 9,000 Crore Investment in TCS’s HyperVault AI Data Center Initiative.

This represents a pivotal moment for TCS, which has traditionally embraced a capital-efficient, organic growth model. With plans to develop up to 1.2 GW of capacity – equivalent to the total combined capacity of all of India’s existing data centers – TCS is positioning itself at the forefront of the global AI landscape.

AZB & Partners advised Tata Consultancy Services Limited (TCS) and its subsidiary, HyperVault AI Data Center Limited (HyperVault), on their groundbreaking INR 18,000 crore AI data center initiative. This includes an approximately INR 9,000 crore investment from TPG into HyperVault.

The deal team comprised Senior Partners Nandish Vyas and Nilanjana Singh, Partner Devika Nayak, Senior Associates Shreshth Bhartia and Shivani Shenoy, Associates Meghna Somani, Anika Kumar and Sahil Agarwal, with support on competition law aspects from our Senior Partner Bharat V Budholia and Senior Associate Vayshnavi Ganesh.

Cyril Amarchand Mangaldas advised the investor TPG on this transaction.

The deal team was led by Partner Iqbal Khan, and included Partner Ashid Basheer, Principal Associate Pranav Tolani, and Associates Pranav Bajaj, Shreya Mukherjee, Gunjan Singh, Raviraj Zinzuvadia and Ishaan Kulshrestha.

Partner Avaantika Kakkar and Senior Associate Rajat Sharma advised on antitrust issues, and Partner Sairam Subramanian and Principal Associate designate Saloni S advised on the disputes side. Managing Partner Cyril Shroff provided strategic inputs while Senior Partner L Viswanathan provided inputs on the structure.

Latham & Watkins served as international legal counsel for TPG on this transaction. The deal team was led by Partners Sharon Lau and Richard Watkins.