Shardul Amarchand Mangaldas advises Samara Capital in its acquisition of insurance broking division of Aditya Birla
March 31, 2023
Shardul Amarchand Mangaldas & Co. advised Edme Services Private Limited, part of Samara Capital Group and an affiliate of Samara Alternate Investment Fund in the acquisition of entire stake in Aditya Birla Insurance Brokers Limited (ABIBL) from Aditya Birla Capital Limited and Infocyber India Private Limited, for a consideration based on an enterprise value of Rupees Four Thousand Five Hundred and Fifty Million on a cash free and debt free basis. The consummation of the transaction is subject to the approval of Insurance Regulatory and Development Authority of India (IRDAI) and other statutory/regulatory approvals.
The Transaction team comprised Jay Gandhi, Partner, Rohan Jain, Partner, Kshitij Arora, Senior Associate, Shrutika Lakhotia, Associate. The team advising on insurance and regulatory aspects of the transaction included Anu Susan Abraham, Partner, Arush Upmanyu, Principal Associate and Anupam Choudhary, Senior Associate.
The due-diligence team comprised Jay Gandhi, Partner, Anu Susan Abraham, Partner, Rohan Jain, Partner, Arush Upmanyu, Principal Associate, Anupam Choudhary, Senior Associate, Karuna Sharma, Senior Associate, Kshitij Arora, Senior Associate, Christina Shaju, Associate, Harshita Saraf, Associate, Neeti Amin, Associate, Samyukta Shetty, Associate, and Shrutika Lakhotia, Associate.