Khaitan & Co and Cyril Amarchand Mangaldas (CAM) advised on Vitruvian Partners’ INR 800 crore investment in Hiranandani Financial Services (HFS).

Khaitan & Co advised Vitruvian Partners on its INR 800 crore equity investment in Hiranandani Financial Services. The deal marks Hiranandani Financial Services’s first external equity fundraise and Vitruvian Partners’ debut investment in India’s MSME lending space.

The core team included Ashraya Rao, Saswat Subasit, Shreya Mukherjee, Ravali Rayaprolu, Aman Bagaria and Akhil Kumar, with strategic inputs from Niren Patel and assistance from Anshuman Sakle (Competition Law).

CAM acted as the legal counsel to Hiranandani Financial Services Private Limited and its founders, Harsh Hiranandani and Neha Hiranandani, in their debut equity investment round. Vitruvian Partners invested INR 800 crores in HFS, a non-banking financial company engaged primarily in the business of providing secured loans against property.

The transaction team was led by Vandana Sekhri and Aditi Manchanda with assistance from Naimi Kamdar, Anukriti Bhattad and S B Aditi. The vendor due diligence team was led by Aditi Manchanda with support from Naimi Kamdar, Deepjoyika Ghosh Dastidar, Lokit Khurana, Anukriti Bhattad, Kabeer Jay, Kanishka Iyer, Rishi Rathod and Shivendra Mehndiratta. Jian Johnson with support from Shobhit Dave, Yusuf Kathawala, Puvvala Medha, Kruttika Lokesh, assisted on regulatory due diligence and related aspects for the transaction. Arya Tripathy with the support from Aishwarya Joshi and Milind Yadav assisted on intellectual property, information technology and data privacy due diligence and related aspects for the transaction. Gazal Rawal with the support from Yash Mukadam and Ujjwal Agrawal advised on regulatory practice related aspects of the transaction. Sowmya Kumar with the support from Luv Saggi and Jay Bhaskar Sharma assisted on employment law due diligence and related aspects for the transaction. Thangadurai VP advised on tax related aspects of the transaction.