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REUTERS/Dado Ruvic/Illustration

Touchstone Partners and Induslaw have advised India’s Mohalla Tech and its short-video platform ShareChat, respectively, on the $700 million acquisition of Bengaluru-based rival MX TakaTak from MX Media. Shardul Amarchand Mangaldas & Co advised the seller.

Also representing Mohalla Tech were Gunderson Dettmer and Latham & Watkins.

Indian short-video apps have become popular since New Delhi banned ByteDance's TikTok and some other Chinese apps in 2020 following an India-China border clash, according to Reuters.

When combined, MX TakaTak and ShareChat will have more than 300 million monthly users and nearly 250 billion monthly video views, creating what they dubbed as "the largest short video platform for Indians," Reuters added.

The Induslaw team was led by partner Manish Gupta, who was supported by partners Anubha Sital, Shreya Suri, Vaibhav Bhardwaj and Bharadwaj Jaishankar.

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