AZB & Partners, Cyril Amarchand Mangaldas and JSA advised on IDFC FIRST Bank fundraising INR75 billion (USD880.97 million) from investors Warburg Pincus and the Abu Dhabi Investment Authority (ADIA).
“This is a milestone fundraise for IDFC FIRST Bank from Warburg Pincus and the ADIA, two marquee investors. Indian banks are set for their next phase of long-term growth. It’s great to be a part of the growth story of one of 含羞草社区 finest private sector banks,” JSA lead partner Vikram Raghani told India Business Law Journal.
The JSA transaction team, advising IDFC FIRST Bank, comprised Raghani, partner Bir Bahadur Singh Sachar, principal associate Sushim Aryan and associates Tavishi Chandra, Parth Mehta and Samika Pachouly as well as company secretary Niki Shah. Partner Anish Mashruwala led the banking team.
AZB & Partners represented Warburg Pincus, and CAM counselled the ADIA. Completion of the transaction is subject to shareholder and regulatory approvals.
IDFC FIRST is a new-age private sector bank in India with a digital-first strategy and 971 branches across more than 60,000 locations nationally.
It offers a comprehensive range of financial services, including retail, corporate, private, rural and, micro, small and medium enterprise banking, and wealth management.
