Deal Street

October 03, 2019

Shardul Amarchand Mangaldas & Co assist Norwest Venture Partners on its investment in OFB Tech Private Limited

[ by Legal Era News Network ]


Shardul Amarchand Mangaldas & Co (SAM & Co) has advised Norwest Venture Partners (NVP) on its investment for a minority stake in OFB Tech Private Limited as part of Series D round of funding. With this new round of funding, the company has raised a total of INR 1,500 crores of equity and debt funding till date.

Norwest is a leading multi-stage investment firm managing more than $7.5 billion in capital. The firm invests in early to late stage companies across a wide range of sectors with a focus on financials, Fintech, consumer, enterprise and healthcare. OFB Tech Private Limited is an Indian company engaged in the business of operating an online B2B Wholesale Trading platform and providing financial assistance in the form of working capital finance and term loans to SMEs through its subsidiary which is a Non Banking Financial Company (NBFC).

The company already counts Matrix Partners India, Zodius Technologies, Falcon Edge, Creation Investments and several leading angels as its investors.

As the legal counsel to NVP, SAM & Co conducted the legal due diligence on OFB and its subsidiaries and structured the transaction. SAM & Co’s role also included drafting, reviewing and negotiating the transaction documents apart from assisting with the pre-closing and closing actions.

The transaction team at SAM & Co was led by Puja Sondhi, Partner; Sumeet Singh, Partner; Aakanksha Dalal, Senior Associate; Kartik D Monga, Associate and Meghna De, Associate. Siddharth Nair, Partner provided strategic inputs on the transaction.

The diligence team comprised of Sumeet Singh, Partner; Karuna Thapa, Principal Associate; Anish Jaipuriar, Senior Associate; Kartik D Monga, Associate; Surabhi Gupta; Associate, Meghna De, Associate and Kriti Singhania, Associate. Pooja Ramchandani, Partner; Vaibhav Bhardwaj, Principal Associate Designate and Suryansh Gupta, Associate provided assistance on employment law matters.

The total deal value is INR 250 crores (Rupees Two Hundred and Fifty Crores) approximately.

The deal was signed on September 12, 2019.

Related Post

latest News

  • Plea In SC Seeking Transfer Of Indiabulls Case To Delhi

    Advocate Prashant Bhushan has moved the Supreme Court seeking transfer of a criminal defamation case filed against him by Indiabulls Venture Capital M...

    Read More
  • Four New Judges Appointed to the Supreme Court: Strength Reaches 34

    Four new judges have been appointed to the Supreme Court on 18th September 2019, increasing its strength from to 34, the highest-ever.

    Read More
  • Erstwhile Vedanta GC moves to VISA as Vice President - Legal, India and South Asia

    Jasmeet Wadehra who was working with Vedanta as its General Counsel (GC) has joined Visa in Mumbai as Vice President – Legal for India and South Asi...

    Read More