Rising Sun Holdings’ Investment Magma Fincorp

Khaitan & Co advised Rising Sun Holdings Private Limited on the deal.

Rising Sun Holdings Private Limited acquired a controlling stake in Magma Fincorp Limited, by way of a preferential allotment for an aggregate consideration of INR 3206 crore.

Pursuant to the preferential allotment, Rising Sun Holdings will hold a 60% stake in Magma Fincorp Limited and be classified as one of its promoters. Consequently, Rising Sun Holdings (together with Mr Sanjay Chamria and Mr Mayank Poddar, as persons acting in concert) has launched an open offer to the public shareholders of Magma Fincorp Limited in accordance with the applicable SEBI regulations for an aggregate consideration of upto INR 1392 crore.

The Khaitan & Co team consisted of Partner Arindam Ghosh (Picture), Abhishek Dadoo (Partner), Shashank Patil (Senior Associate), Anvita Mishra (Senior Associate) and Jaidev Mehrotra (Trainee Solicitor); Competition Law aspects: Anisha Chand (Partner), Swati Bala (Senior Associate) and Vasudhaa Ahuja (Associate); NBFC related aspects: Moin Ladha (Partner) and Charu Singh (Associate); Insurance Law aspects: Niren Patel (Partner) and Saswat Subasit (Principal Associate).

Involved fees earner: Vasudhaa Ahuja – Khaitan & Co.; Swati Bala – Khaitan & Co.; Anisha Chand – Khaitan & Co.; Abhishek Dadoo – Khaitan & Co.; Arindam Ghosh – Khaitan & Co.; Moin Ladha – Khaitan & Co.; Anvita Mishra – Khaitan & Co.; Niren Patel – Khaitan & Co.; Shashank Patil – Khaitan & Co.; Charu Singh – Khaitan & Co.; Saswat Subasit – Khaitan & Co.;

Law Firms: Khaitan & Co.;

Clients: Rising Sun Holdings Private Limited ;

Author: Sonia Carcano