Khaitan & Co advised Vitruvian Partners on an equity investment of INR 800 crores (approximately USD 92 million) by funds managed by Vitruvian Partners, through Vitruvian Partners’ Singapore platform, in Hiranandani Financial Services Pvt Ltd Hiranandani Financial Services is a non-banking finance company registered with the Reserve Bank of India and it 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.
The firm acted as the legal counsel to Vitruvian Partners and conducted a legal due diligence of Hiranandani Financial Services on their behalf and advised them on drafting, negotiation, finalisation and execution of definitive agreements relating to their equity investment in Hiranandani Financial Services and thereafter on completion of this equity investment.
The deal was assisted by:
Corporate and Commercial: Prakruti Shah (Associate) and Stuti Sehgal (Associate).
Competition / Antitrust: Anshuman Sakle (Partner) and Armaan Gupta (Senior Associate).
The deal team was led by Ashraya Rao (Partner), Saswat Subasit (Partner) and Shreya Mukherjee (Partner), included Ravali Rayaprolu (Principal Associate), Aman Bagaria (Senior Associate), and Akhil Kumar (Senior Associate).
Corporate & Commercial: Niren Patel (Partner)