Shardul Amarchand Mangaldas advises Norwest Capital, LLC on its investment in Social Worth Technologies Private Limited
September 6, 2022
Shardul Amarchand Mangaldas advised Norwest Capital, LLC on its investment (primary and secondary) in Social Worth Technologies Private Limited (“Company”). The Company is inter alia engaged in the business of providing a software application to its customers related to consumer lending services provided by others and its subsidiary, namely, EarlySalary Services Private Limited. EarlySalary Services Private Limited is registered as a non-banking finance company and is engaged in the business of lending to individuals. The deal is valued at approx. USD 112 million. The deal was closed in end of August, 2022.
The transaction team from Shardul Amarchand Mangaldas comprised Puja Sondhi, Partner; Manita Doshi, Partner; Sakshi Sejwal, Senior Associate; Prerna Saroha, Associate; and Chirag Mangal, Associate. The due diligence team comprised Manita Doshi, Partner; Sakshi Sejwal, Senior Associate; Prerna Saroha, Associate and Kanika Mittal, Associate. The regulatory team was led by Zubin Mehta, Partner with assistance from Jasraj Narula, Senior Associate; and Prarthna Nanda, Associate.
AZB & Partners and Argus Partners advised Rise Fund III SF PTE. Ltd., and Piramal Capital and Housing Finance Limited, respectively. Cyril Amarchand Mangaldas advised Social Worth Technologies Private Limited, Chiratae Trust and IDG Ventures India Fund III LLC.