Cyril Amarchand Mangaldas advised Vistaar Financial Services Private Limited (Vistaar); and its founders Mr. Brahmanand Hegde, and Mr Ramakrishna Nishtala (Founders), on the proposed acquisition of a majority stake in Vistaar by Warburg Pincus. Vistaar is a leading NBFC focused on lending to MSME businesses in India.
The General Corporate, Capital Markets, Competition Law Practices of Cyril Amarchand Mangaldas advised for Vistaar; and its Founders. The transaction team was led by Reeba Chacko, Partner (Head – Corporate); Saurav Samaddar, Partner; with support from Krithika Chandrasekaran, Principal Associate; Gopika Nambiar, Associate; and Nritika Sangwan, Associate
The team led by Gazal Rawal, Partner; with support from Pankhuri Swarnim, Associate; and Maharshi Shah, Associate; of the firm’s Financial Regulatory Practiceprovided advice on regulatory aspects
The Competition Team led by Kirthi Srinivas, Partner; provided strategic inputs advised on merger control related aspects of the deal.
As a part of the Transaction, Warburg Pincus has agreed to acquire a majority stake of Vistaarby purchasing shares from various existing shareholders. Vistaar’s existing investors WestBridge Capital; Omidyar Network, Elevar Equity, Saama Capital will exit as part of the deal.
The transaction documents were signed on October 08, 2022; and closing is subject to regulatory approval.
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.