Cyril Amarchand Mangaldas advised Axis Bank on acquisition of 9.9% stake in Go Digit Life
Cyril Amarchand Mangaldas advised Axis Bank on acquisition of 9.9% stake in Go Digit Life
Cyril Amarchand Mangaldas acted as the legal counsel to Axis Bank Limited (Axis Bank), to acquire 9.9% stake in Go Digit Life Insurance Limited (Go Digit Life) in two tranches, subject to terms and conditions set out in the definitive documents.
Go Digit Life proposes to carry out life insurance business in India, subject to the receipt of certificate of registration by the IRDAI.
The General Corporate Practice of Cyril Amarchand Mangaldas advised Axis Bank on the transaction. The transaction team was led by Indranath Bishnu, Partner; Pranjita Barman, Partner; with support from Soumyadipta Chanda, Principal Associate; and Anirud Sudarsan R, Senior Associate.
The Transaction was signed on 21st April 2023 and closing is expected to take place within 3 to 6 months of signing.
