Shardul Amarchand Mangaldas advises Norwest Capital, LLC and Celebal Technologies Private Limited

December 7, 2022

Shardul Amarchand Mangaldas advised Norwest Capital, LLC (“Norwest”), Celebal Technologies Private Limited (“Celebal”) and its Promoters (Mr. Anirudh Kala and Mr. Anupam Gupta) in relation to Norwest’s USD 32 million investment in Celebal, comprising: (a) primary investment towards subscription to Series A compulsorily convertible preference shares, and (b) secondary investment towards acquisition of equity shares of Celebal held by existing shareholders. The transaction closed on 23 November, 2022.

The transaction team for Norwest was led by Puja Sondhi, Partner, Aayush Kapoor, Partner, Sakshi Sejwal, Senior Associate, Harjas Singh, Associate, and Kanika Mittal, Associate. The due diligence team was led by Sakshi Sejwal, Senior Associate, Harjas Singh, Associate, Shivam Gupta, Associate, Chirag Mangal, Associate, Kanika Mittal, Associate, Arpit Saini, Associate, and Akshita Jain, Paralegal. Kirti Kaushik, Partner, and Harshita Arora, Associate advised on the employment law related aspects.

The team led by Abhishek Guha, Partner, Tanya Uppal, Partner, Shashank Prabhakar, Principal Associate and Amrita Ghosh, Associate advised Celebal and its Promoters on the transaction.

Avendus Capital Private Limited advised Celebal Technologies Private Limited and the Promoters on the financial aspects.