Skip to main content

Morrison and Forester and Nishith Desai Associates have acted as SoftBank Group’s U.S. and Indian counsel, respectively, on its $1.4 billion investment in digital payments provider Paytm, which turned to Shardul Amarchand Mangaldas for advice.

Owned by One97 Communication, Paytm runs India's biggest digital payments system with more than 220 million users. It plans to use the new funding to expand its services in the next three to five years.

After the investment, the Japanese internet and telecoms giant will get a board seat in Paytm, reported Reuters. Other investors in Paytm included Chinese conglomerate Alibaba and its Alipay unit, which were advised by Trilegal.

According to Reuters, payment banks are seen as a growing opportunity in India, which has plenty of smartphones, but also has millions of people who lack formal access to banking services.

NDA’s team was led by partner Pratibha Jain and Tanya Pahwa, while partners Raghubir Menon and Ekta Gupta handled the transaction for SAM. 

Partner Rohan Ghosh Roy oversaw the investment for Trilegal.

Related Articles

Deals

Khaitan, JSA, Hogan Lovells guide $515 mln Waaree IPO

by Nimitt Dixit |

Khaitan & Co has advised Waaree Energies, India's largest manufacturer and exporter of solar modules, on its $515 million initial public offering, with JSA Advocates & Solicitors and Hogan Lovells guiding the bookrunning lead managers.

Deals

CAM, Khaitan guide Adani-backed Renew Exim’s $380 mln ITD acquisition

by Nimitt Dixit |

Cyril Amarchand Mangaldas has advised Adani Group's Dubai-based firm Renew Exim DMCC on its acquisition of a 46.64 percent stake in ITD Cementation India for around $380 million from Italian-Thai Development Public Company, who was represented by Khaitan & Co.

Deals

CAM, AZB, SAM, Latham advise on landmark $1.3 bln Swiggy IPO

by Nimitt Dixit |

Cyril Amarchand Mangaldas is advising SoftBank-backed Indian food and grocery delivery giant Swiggy on its much-anticipated initial public offering worth $1.3 billion, with AZB & Partners and Latham & Watkins advising the bookrunning lead managers.