Cyril Amarchand Mangaldas advised BofA Securities India Limited, which acted as the broker in relation to the sale of equity shares by SVF India Holdings (Cayman) Limited, member of the SoftBank Group, of One 97 Communications Limited on the screen based trading platform of the BSE and NSE.
The Capital Markets Practice of Cyril Amarchand Mangaldas advised BofA Securities India Limited on the transaction. The transaction was led by Abhinav Kumar, Partner & Regional Head Markets Practice Western Region; with support from Aashima Johur, Principal Associate.
The Transaction involved sale of 29,350,000 equity shares of One 97 Communications Limited by SVF India Holdings (Cayman) Limited, by way of a share sale on the screen-based trading platform of the Stock Exchanges. This comprised a sale of 4.5% stake by SVF India Holdings (Cayman) Limited in the Company for a reported aggregate amount of USD 200 million
Other parties and advisors to the transaction included Sidley Austin LLP (acted as international legal counsel to the broker) Khaitan & Co LLP (acted as Indian counsel to the seller) and Walkers (Cayman) LLP (acted as Cayman counsel to the seller).
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. With 1000 lawyers and 160 Partners, the Firm is the largest full-service law firm in India and offices in key business centres at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City and also in Singapore.
The Firm recently received “Innovation in Advancing Markets” award at the FT Innovative Lawyers Asia Pacific 2022 Awards and the “National Law Firm of the Year: India” award at the IFLR Asia Pacific 2022 awards ceremony. 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 2021.