Cyril Amarchand Mangaldas(CAM) advised AscentInvestment Holdings Pte. Ltd. (“Ascent”) in respect to the sale of 500,000 equity shares of the face value of Rs. 10 each (“Equity Shares”) of Amber Enterprises India Limited (“Amber Enterprises”), representing approximately 1.48% of the total issued and paid-up Equity Share capital of Amber Enterprises, by way of sale on the screen-based trading of National Stock Exchange of India Limited (“NSE”) for an aggregate consideration of Rs. 200 crores (approx.) (the “Sale”). Jefferies India Private Limited acted as broker for the Sale.
CAM played a crucial role as legal counsel in this transaction, providing expert guidance on SEBI’s insider trading regulation and takeover norms and representationthat can be given by the client with respectto the underlying company in the block trade agreement. Ascent has undertaken multiple share sale of its holding in Amber Enterprisesin the past.
The Capital Markets team of Cyril Amarchand Mangaldasadvised on thematter.The transactionwasled by Abhinav Kumar, Partner & Regional Head Markets Practice (Western Region); with support from Jhalak Shah, Senior Associate.
The transaction was signed on 18th June, 2024 and closing was done on 20th June, 2024. _____________________________________________
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.
