Cyril Amarchand Mangaldas acted as the legal counsel to Axis Bank Limited (Axis Bank), to acquire 9.9% stake in Go Digit Life Insurance Limited (Go Digit Life) in two tranches, subject to terms and conditions set out in the definitive documents. Go Digit Life proposes to carry out life insurance business in India, subject to the receipt of certificate of registration by the IRDAI.
The General Corporate Practice of Cyril Amarchand Mangaldas advised Axis Bank on the transaction. The transaction team was led by Indranath Bishnu, Partner; Pranjita Barman, Partner; with support from Soumyadipta Chanda, Principal Associate; and Anirud Sudarsan R, Senior Associate.
The Transaction was signed on 21st April 2023 and closing is expected to take place within 3 to 6 months of signing.
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 centers 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.
