Cyril Amarchand Mangaldas (CAM) advised Warburg Pincus LLC in 100% acquisition of Shriram Housing Finance Limited (“SHFL”). Warburg Pincus has entered into definitive agreement to acquire approximately 100% of Shriram Housing Finance for INR 4630 crores. The selling shareholders include Shriram Finance Limited, Valiant, private equity investor, and certain individual shareholders.
This marks Warburg’s largest investment in India, targeting SHFL, which is one of the country’s largest affordable housing finance companies. SHFL is registered with the National Housing Bank (NHB) and provides retail loans. CAM played a crucial role as legal counsel for Warburg, conducting legal due diligence, and overseeing the drafting, negotiation, review, and finalization of the share purchase agreement and other transaction documents.
The General Corporate team of Cyril Amarchand Mangaldas advised on the matter. The transaction team was led by Shishir Vayttaden, Partner; Aditi Singhvi, Partner; with support from Reeti Agarwal, Senior Associate; and Suyashi Mishra, Associate.
The team was also supported by Pranav Sharma, Associate; Shanthan Reddy, Associate; Devanshi Gupta, Associate; Alena Jamal, Associate; Dhruv Jain; Associate; Aanchal Jain, Associate; Isha Tandon, Associate; Chelsea Sawlani, Associate; Parikha Rathi, Associate; Simran Doshi, Associate; and Sparsh Mallya, Associate.
Subhojit Sadhu, Partner; Apoorv Jain, Principal Associate; Chahat Gupta, Associate; Mansi J, Associate; and Sanyam Agarwaal, Associate; advised on financing related aspects of the transaction.
Abe Abraham, Partner; Anna Thomas, Principal Associate; Sonam Ambastha, Associate; and Rachita Shah, Associate; advised on employment related aspects of the transaction.
Anirban Mohapatra, Partner; Anoushka Soni, Associate; and Mansi Jain, Associate advised on intellectual property related aspects of the transaction.
Avaantika Kakkar, Partner & Head Competition Law; Dhruv Rajain, Partner; with support from Shivani Sathe, Senior Associate; Vanya Agarwal, Associate; Riddhiraj Sehgal, Associate; and Pushkar Singh, Associate advised on competition law related aspects of the transaction.
Bharath Reddy, Partner; Abhishek Jain, Associate; and Digvijay Singh, Associate; advised on employee stock options related aspects of the transaction.
Indranath Bishnu, Partner; and Niyati Dholakia, Principal Associate; advised on insurance related aspects of the transaction.
The transaction was Signed on 13th May, 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.
