Shardul Amarchand Mangaldas advises Wadhawan Global Capital Private Limited and Dewan Housing Finance Corporation Limited in the sale of stakes in Avanse Financial Services Limited

March 18, 2019

Shardul Amarchand Mangaldas & Co (SAM & Co) has advised Wadhawan Global Capital Private Limited (Seller 1) and Dewan Housing Finance Corporation Limited (Seller 2) in selling their stakes in Avanse Financial Services Limited to Olive Vine Investments Ltd. (company), an affiliate of the Warburg Pincus Group.

The Corporate practice of SAM & Co acted as advisors for the sellers in the sale of their entire holdings in Avanse Financial Services Limited through a competitive bidding process. The Sellers sold their entire stake in the Company (amounting to 80% of the share capital) to an affiliate of Warburg Pincus.

The transaction team from SAM & Co included Mr. Jay Gandhi, Partner; Mr. Abhishek Parekh, Principal Associate; Mr. Nikhil Joseph, Senior Associate; Ms. Puloma Mukherjee, Senior Associate and Ms. Namrata Mehta, Associate.

The parties involved in the transaction are AZB & Partners who acted as the legal counsel to Olive Vine Investments Ltd., an affiliate of the Warburg Pincus group. Ernst & Young acted as the investment bankers.

The share purchase agreement was executed on March 16, 2019.