Cyril Amarchand Mangaldas Advised IDFC And IDFC Financial Holding Company
Cyril Amarchand Mangaldas Advised IDFC And IDFC Financial Holding Company
Cyril Amarchand Mangaldas (CAM) advised IDFC Limited (IDFC) and IDFC Financial Holding Company Limited (IDFC FHC) on their amalgamation with IDFC FIRST Bank Limited (IDFC First Bank), including transaction structuring, legal diligence, regulatory interface, negotiations and finalising documentation, including the Scheme of Amalgamation, Implementation Agreement, assistance with the National Company Law Tribunal (NCLT) process, corporate advisory and closing assistance.
The transaction was led by Anu Tiwari, Partner (Head – Fintech and Financial Services); Ketaki Mehta, Partner - GIFT City; with support from Kush Wadehra, Principal Associate; and Shobhit Dave, Associate.
Jeeta Nayak, Partner, Vishrut Jain, Principal Associate; and Shobhit Dave, Associate, supported on certain Corporate Law and Governance related aspects.
Cyril Shroff, Managing Partner; L. Viswanathan, Senior Partner; and Anand Sinha, Senior Advisor, provided strategic input and guidance throughout the process.
Other parties and advisors to the transaction included SSPA & Co., Chartered Accountants (valuer to IDFC and IDFC FHC); Axis Capital Limited (fairness opinion for IDFC and IDFC FHC); Deloitte Touche Tohmatsu India LLP and Harsh Chandrakant Ruparelia (valuer to IDFC First Bank); ICICI Securities (fairness opinion for IDFC First Bank); JM Financial Limited (financial advisor to IDFC First Bank).
The transaction document was signed on July 3, 2024, and closed on October 1, 2024.
