Shardul Amarchand Mangaldas & Co. advises Norwest Venture Partners to invest in Busybees Logistics Solutions Private

November 21, 2020

Shardul Amarchand Mangaldas & Co. (SAM & Co) advised Norwest Venture Partners on its investment into Busybees Logistics Solutions Private Limited which operates ‘Xpressbees’ e-commerce platform focused end-to-end supply chain solutions provider. The fund raising round also saw participation from Gaja Capital and Investcorp.

As part of this fund raising round, NVP, Gaja and Investcorp Ltd. have also provided complete exit to Vertex Asia Fund Pte.; One 97 Communications Limited and Millenna FDI III Ltd. Founders namely Amitava Saha and Supam Maheshwari along with certain other shareholders also participated in the secondary sale. The date of closing was 9 November 2020.

Founded in 2015 by Amitava Saha (founder, Firstcry) and Supam Maheshwari, Xpressbees is amongst the largest players in ecommerce logistics in India. The company handles over 2 million shipments daily across the country on its network.

The due diligence team was led by Sumeet Singh, Partner, Aakanksha Dalal, Senior Associate, Rachel Noronha, Associate, Meghna De, Associate. The transaction team was led by Puja Sondhi, Partner, Sumeet Singh, Partner, Kartik D Monga, Senior Associate, Meghna De, Associate; Shraddha Desai, Associate, Harjas Singh, Associate. The transaction team for Paytm was led by Raghubir Menon, Regional Practice Head- M&A and Private Equity, General Corporate, Tanya Choudhary, Senior Associate.

Nishith Desai Associates advised Investcorp; Cyril Amarchand Mangaldas advised Gaja Capital; Induslaw advised Vertex Asia Fund Pte. Ltd, Busybees Logistics Solutions Private Limited and Amitava Saha, Supam Maheshwari along with certain other shareholders; Jerome Merchant + Partners advised Millenna FDI III Ltd.