Khaitan & Co Advised Vitruvian Partners On Its INR 800 Crore Equity Investment In Hiranandani Financial Services
Khaitan & Co advised Vitruvian Partners on its INR 800 crore equity investment in Hiranandani Financial Services
The leading law firm in India, Khaitan & Co advised Vitruvian Partners on an equity investment of INR 800 crores (approximately USD 92 million) by funds managed by Vitruvian Partners, through its Singapore platform, in Hiranandani Financial Services Private Limited.
Hiranandani Financial Services, a non-banking finance company (NBFC) registered with the Reserve Bank of India, provides small-ticket loans against property to micro, small, and medium enterprises (MSME) borrowers to support their business expansion and working capital requirements.
This deal marks Hiranandani Financial Services’ maiden external equity fundraise and Vitruvian Partners’ debut equity investment in the Indian MSME lending space.
Khaitan & Co acted as the legal counsel to Vitruvian Partners, conducting a legal due diligence of Hiranandani Financial Services and advising on drafting, negotiation, finalisation, and execution of definitive agreements relating to the equity investment and its completion.
About Vitruvian Partners
Vitruvian Partners is a global growth-focused investor with offices in London, Stockholm, Munich, Madrid, Luxembourg, Mumbai, Singapore, Shanghai, Miami, and San Francisco. The firm focuses on dynamic situations characterized by rapid growth and transformation across asset-light industries and has over USD 20 billion in active funds. Vitruvian has backed numerous global leaders, including Just Eat, Arrive (formerly EasyPark), Skyscanner, Marqeta, Wise, Global-e, CFC, Darktrace, and Bitdefender.
The Khaitan & Co deal team was led by Ashraya Rao (Partner), Saswat Subasit (Partner), and Shreya Mukherjee (Partner), and included Ravali Rayaprolu (Principal Associate), Aman Bagaria (Senior Associate), and Akhil Kumar (Senior Associate). The team received strategic inputs from Niren Patel (Partner) and was assisted by the following:
The Legal Due Diligence Team was supported by Prakruti Shah (Associate) and Stuti Sehgal (Associate).
The Antitrust/Competition Team was supported by Anshuman Sakle (Partner) and Armaan Gupta (Senior Associate).
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