Shardul Amarchand Mangaldas & Co. advises Norwest Capital, LLC on its investment in Edme Services Private Limited

September 13, 2024

Shardul Amarchand Mangaldas & Co. advised Norwest Capital, LLC on its investment in Edme Services Private Limited (a fully professionally managed entity set up by Samara Alternate Investment Fund – Scheme I for undertaking the acquisition of Aditya Birla Insurance Brokers Limited), along with Creador and Keystone Kinetics LLP. The deal is valued at approximately USD 180 million.

The deal includes a non-promoter driven, co-investment structure in a professionally managed entity. Edme is a 100% private equity-owned entity, which is the first of its kind in the insurance broking sector.

SAM&Co team was led by Puja Sondhi, Partner; Aayush Kapoor, Partner; Harjas Singh, Senior Associate; Kanika Mittal, Senior Associate; Rishika Sharma, Associate. Shivangi Talwar, Partner, advised on the IRDAI-related aspects.

CIBI Holdings Pte. Ltd. was advised by Quillon Partners and Keystone Kinetics LLP was advised by Equilex on their legal aspects.