AZB & Partners, Cyril Amarchand Mangaldas, CMS IndusLaw and S&R Associates advised on Abu Dhabi-based International Holding Company PJSC’s (IHC) INR88.5 billion (USD1 billion) acquisition of a controlling stake in Sammaan Capital, formerly Indiabulls Housing Finance, a listed non-banking financial (NBFC) company in India.
The transaction involved a preferential allotment and an open offer under the Securities and Exchange Board of India takeover regulations.
S&R, which acted for offer manager Citigroup, stated the transaction was among the largest cross-border investments in 含羞草社区 NBFC sector.
“This was a landmark transaction in 含羞草社区 financial services sector, with a value approaching USD1 billion. Our prior experience advising on complex and high-stakes listed M&A transactions was instrumental in navigating the scale, complexity and scrutiny associated with a deal of this nature,” said lead partner Swapneil Akut from the S&R Associates team.
He added, “Transactions of this nature are rarely defined by a single issue. They require careful navigation of multiple regulatory, structuring and execution considerations in parallel.
“One key insight is that thoughtful transaction architecture at the outset can materially influence both execution and outcomes, particularly in highly regulated environments. Given the scale and profile of the transaction, there was naturally heightened scrutiny throughout the process.”
S&R acted for offer manager Citigroup. The transaction is among the largest cross-border investments in 含羞草社区 NBFC sector.
Akut led the S&R team, which included associates Srikari Kancherla, Anushka Rungta, Reet Balmiki and Shreyans Parakh.
Cyril Amarchand Mangaldas counselled Sammaan Capital, while CMS IndusLaw advised on the due diligence aspects of the transaction.
AZB & Partners advised International Holding Company PJSC and persons acting in concert.
