Deal Street

March 04, 2020

S&R Associates represented NYLIM Jacob Ballas Fund III in the sale of equity shares in Religare Finvest Limited to Religare Enterprises


[ by Legal Era News Network ]

S&R-Associates

S&R Associates represented NYLIM Jacob Ballas Fund III, Mauritius on the sale of its equity shares in Religare Finvest Limited (“RFL”), a leading SME financing-focused NBFC, to Religare Enterprises Limited (“REL”). Following the acquisition of shares, RFL has become a wholly-owned subsidiary of REL.

According to Stock Exchange announcement by Religare Enterprises, pursuant to the Share Purchase Agreement (“SPA”) entered for acquisition of 3,76,41,204 equity shares of Religare Finvest Limited (RFL) constituting 14.36% shareholding of RFL owned by private equity investors i.e. Resurgence PE Investments Limited (formerly known as Avigo PE Investments Limited) (“Resurgence”) and NYLIM Jacob Ballas India Fund III, LLC (“Jacob Ballas”) (collectively referred to as the ‘Investors’), the Religare Enterprises has acquired the additional 14.36% shareholding in RFL from the Investors.

It is further mentioned that pursuant to the acquisition, RFL has become a wholly –owned subsidiary of Religare Enterprises w.e.f. February 28, 2020.

The S&R corporate team included partner Mohit Gogia and associate Neethu Roy. Partner Niti Dixit, counsel Abhishek Tewari and associate Abhishikta Mallick advised and represented the client on related litigation and arbitration matters.

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