Khaitan & Co advised Northern Arc Capital Limited on the deal.
Northern Arc Capital, formerly IFMR Capital, has raised $130 million from IIFL Special Opportunities Fund and its Series, managed by IIFL Asset Management Ltd, Standard Chartered Pvt Equity and Affirma Capital.
Axis Capital, Credit Suisse and ICICI Securities acted as advisors to the transaction. Affirma Capital is the newly formed private equity firm to be managed by team of Standard Chartered Private Equity.
With this round of investment, the company’s net worth has almost doubled, the city-based firm said.
As part of this transaction, investors Dvara Trust, LeapFrog Investments and Accion would sell their stake in the company.
Khaitan & Co advised Northern Arc Capital Limited on the deal with a team including Akshay Bhargav (Picture), Vidushi Gupta (Principal Associate) and Tanvi Arora (Associate).
Involved fees earner: Akshay Bhargav – Khaitan & Co.;
Law Firms: Khaitan & Co.;
Clients: Northern Arc Capital;