The Firm advised the Elder Venture LLP and Elder Infosystems Private Limited (collectively, the Promoter Entities”); and GA Global Investments Limited “(GA”) and was involved in negotiating and drafting the share purchase agreements and all related transaction documents.

Deal can be described as; 1. Acquisition of 41.8% in aggregate of the total share capital of the Target by HT Global IT Solutions Holdings Limited (an investment vehicle of Baring Private Equity Asia G.P. V, L.P.) (“Acquirer”) from the Promoter Entities and GA. 2. Open offer by Acquirer for acquisition of upto 26% of the share capital of the Target in accordance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Total consideration is for approximately INR 16.82 billion (approximately USD 275 million) for purchase of 41.8% of the shareholding of the Target from the Promoter Entities and GA. The break up for the same is as follows; 1. Approximately INR 11.12 billion (approximately USD 180 million) for purchase of 27.7% of the share capital of the Target held by the Promoter Entities; and 2. Approximately INR 5.70 billion (approximately USD 92 million) for sale of 14.1% of the share capital of the Target held by GA. The transactions was taken care by Abhijit Joshi, Essaji Vahanvati, Partner and Adarsh Varghese, Pallavi Satpute, Associate.