Cyril Amarchand Mangaldas Advises abrdn Group in the Secondary Trade in HDFC Life

0
127


 





Mumbai, Maharashtra, New Delhi, Delhi, India:
 Cyril Amarchand Mangaldas suggested abrdn (Mauritius Holdings) 2006 Limited (abrdn) in relation to the secondary commerce by abrdn in HDFC Life Insurance Company Limited (HDFC Life). abrdn is considered one of the promoters of the HDFC Life and has undertaken a number of share sale after the IPO of the Company.

 

The Capital Markets Practice of Cyril Amarchand Mangaldas suggested abrdn Group on the transaction paperwork. The transaction crew was led by Abhinav Kumar, Partner.

 

Tax advisory was offered by SR Patnaik, Partner & Head – Taxation; Kunal Savani, Partner; with help from Bipluv Jhingan, Principal Associate.

 

As part of the transaction, abrdn undertook the sale by means of share sale on the screen-based buying and selling of BSE Limited for an combination consideration of Rs 2,434 crores (approx.). The transaction concerned a sale of 43,000,000 fairness shares of the face worth of Rs. 10 every of HDFC Life, representing 2.00% (approx.) of the complete issued and paid-up fairness share capital of HDFC Life, by abrdn.

 

Other Parties and Advisors to the transaction included BofA Securities India Limited (acted as the Broker).

 

The combination worth of the transaction is INR 2,434 crore (approx.).

 

The transaction was signed on September 13, 2022; and closed on September 15, 2022.

About Cyril Amarchand Mangaldas

Cyril Amarchand Mangaldas (cam) is India’s main legislation agency with a world popularity of being trusted advisers to its purchasers. The Firm advises a big and numerous set of purchasers, together with home and overseas business enterprises, monetary establishments, personal fairness and enterprise capital funds, start-ups, authorities and regulatory our bodies. The Firm generalists, specialists and senior ex-regulators expertly information purchasers throughout a spectrum of transactions, sectors and rules. With 1000 attorneys and 160 Partners, the Firm is the largest full-service legislation agency in India and places of work in key business centres at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City and in addition in Singapore.

 

The Firm lately acquired “Innovation in Advancing Markets” award at the FT Innovative Lawyers Asia Pacific 2022 Awards and the “National Law Firm of the Year: India” award at the IFLR Asia Pacific 2022 awards ceremony. The Firm had received “India Deal Firm of the Year” at the ALB India Awards and “Firm of the Year” at the IFLR1000 India Awards in 2021.

See also  COVID-19’s Response to the Buy Vs. Rent Conundrum

Click right here for Media Contact Details

Madhumita Paul (Dy. Chief Marketing Officer – Marketing & Communications), Cyril Amarchand Mangaldas, [email protected], +91-9833818006

Rahul Gossain (Head – Marketing Communications, and Delhi Region BD), Cyril Amarchand Mangaldas, [email protected], +91-9873154228


Submit your press launch





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here