Cyril Amarchand Mangaldas (“CAM”) advised Blazeclan Technologies Private Limited and its founders on the 100% acquisition of Blazeclan by ITC Infotech India Limited.
ITC Infotech India Limited and Blazeclan Technologies Limited and its shareholders concluded share acquisition agreements for the 100% purchase of share capital of Blazeclan. As per regulatory filings, the total consideration for the acquisition by ITC Infotech India Limited is up to INR 485 crores. CAM played crucial role in negotiating the deal on behalf of the shareholders, a task that posed significant challenges.
The GeneralCorporate team ofCyrilAmarchand Mangaldasadvisedon the transaction.The transaction team was led by Anand Jayachandran, Partner; and Suvojit Halder, Partner; with support from Siddarth Chokkalingam, Senior Associate; and Mahek Khandelwal, Associate.
Sindhushri Badarinath, Partner; with support from Digvijay Singh, Associate; advised on issues pertaining to treatment of employee stock options in the transaction.
Other advisors to the transaction included Khetal Advisors, who acted as investment bankers for Blazeclan and its founders; Aeka, who acted as tax advisors for Blazeclan and its founders; Dentons, who acted as employment counsels to the founders on certain Singapore employment law matters.
The transaction was signed on 18th April 2024.
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About Cyril Amarchand Mangaldas
Cyril Amarchand Mangaldas (cam) is India’s leading law firm with a global reputation of being trusted advisers to its clients. The Firm advises a large and diverse set of clients, including domestic and foreign commercial enterprises, financial institutions, private equity and venture capital funds, start-ups, government and regulatory bodies. The Firm generalists,specialists and senior ex-regulators expertly guide clients across a spectrum of transactions,sectors and regulations. The Firm is one of the largest full-service law firm in India and offices in key business centers at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City, Singapore and Abu Dhabi.
The Firm received “National Law Firm of the Year: India” at the IFLR Asia-Pacific Awards for the second consecutive years in 2023 and 2022 and “Innovation in Advancing Markets” award at the FT Innovative Lawyers Asia Pacific 2022 Awards. The Firm had won “India Deal Firm of the Year” at the ALB India Awards and “Firm of the Year” at the IFLR1000 India Awards in 2022.
