Khaitan & Co. advised Apax Partners (Apax) in relation to subscription to compulsory convertible preference shares of Cholamandalam Investment and Finance Company Limited (CIFCL) and open market purchase of equity shares of CIFCL by Apax, for USD 102,959,445 approximately. Apart from advising on the investment structure, the Firm was also involved in the execution of both primary subscription and secondary trade. Partners, Haigreve Khaitan and AakashC houbey led the transaction and advised on the corporate aspects. Executive Director, Daksha Baxi advised on the Direct tax aspects of the transaction.