Khaitan & Co advises Bandhan Financial Holdings Ltd in its proposed acquisition in IDFC Asset Management & IDFC AMC Trustee for Rs 4500 crore

LE Desk 

New Delhi, April 12, 2022: Khaitan & Co has advised a consortium led by Bandhan Financial Holdings Limited (i.e., Bandhan Bank’s promoter NOFHC) in its proposed acquisition of a controlling stake in IDFC Asset Management Company Limited and IDFC AMC Trustee Company Limited.

The consortium comprised BFHL, GIC and ChrysCapital and the deal value is approximately Rs4500 crores, the Law Firm said in a press statement. The consortium was selected through a highly competitive divestment process which witnessed strong participation from strategic players and financial investors, it said.

The deal was led by Partners Saswat Subasit and Shourya Sengupta with Director Sumit Chakraborty along with the core deal team of Sneh Lata (Senior Associate), Sruti Baid (Senior Associate) and Saranya Mishra (Associate) with assistance from Dipen Chatterjee (Partner), Supratim Chakraborty (Partner), Saptarshi Mandal (Senior Associate) and Keshav Tibarewalla (Associate) on structuring advice and due diligence aspects; Anshul Prakash (Partner), Abhinav Rastogi (Counsel) and Archika Dudhwewala (Senior Associate) on employment law aspects and Siddharth Shah (Partner), Vivek Mimani (Partner) and Rohit Jayaraman (Counsel) on SEBI regulatory aspects.

The proposed acquisition is subject to receipt of necessary regulatory approvals and customary closing conditions.