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Shardul Amarchand Mangaldas & Co advises Steadview Capital on sale of Unacademy Securities and acquisition of upGrad Securities through share swap transaction
September 11, 2026
Shardul Amarchand Mangaldas & Co (SAM) advised Steadview Capital in relation to the sale of securities held by Steadview Capital in Sorting Hat Technologies Private Limited (“Unacademy”) in exchange of acquisition of securities of upGrad Education Private Limited (“upGrad”) by way of a share swap transaction.
As part of the transaction, upGrad acquired 100% of the share capital of Unacademy from its existing shareholders in consideration for the issuance of upGrad securities, deal valued at approximately USD 206 million. The transaction also contemplates the eventual merger of Unacademy into upGrad.
The SAM team was led by Harshita Srivastava, Partner, and Vidhisha Ambade, Senior Associate.