AZB & Partners has represented SoftBank Group on its $400 million investment in India’s Paytm E-Commerce, which turned to Shardul Amarchand Mangaldas for advice.

Alibaba, an existing investor in Paytm E-Commerce, is also putting in $45 million in the round, and is being represented by Trilegal. 

The funding round values the online retailer at roughly $1.9 billion, said Reuters. SoftBank is among major investors in India’s fast-growing e-commerce sector and already owns a stake in Paytm’s parent.

A filing with India’s Registrar of Companies showed SoftBank units will get a 21.1 percent stake in Paytm E-Commerce after the investment which would come in four tranches, Reuters added. Alibaba.Com Singapore E-Commerce, which currently owns 36.3 percent of the Indian e-retailer, will remain the single-largest shareholder of Paytm E-Commerce but with a relatively smaller stake of just over 30 percent after its latest investment is completed in four tranches.

The AZB & Partners team was led by partner Vinati Kastia.

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