news
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.

Related Articles

Deals

JSA, IndusLaw, A&O Shearman act on $401mln IndiGo divesture

by Nimitt Dixit |

J. Sagar Associates has advised Interglobe Enterprises on a 2 percent divesture in low-cost Indian airline IndiGo for 33.6 billion rupees ($401 million). Citigroup, which bought IndiGo shares worth 13.6 billion rupees via the open market, was advised by IndusLaw and A&O Shearman.

Appointments

Khaitan boosts employment group with IndusLaw partner duo

by Nimitt Dixit |

Indian law firm Khaitan & Co has bolstered its employment practice with the addition of two partners from IndusLaw. Avik Biswas joins in Bengaluru, while Vaibhav Bhardwaj joins the firm in Delhi.

Appointments

More hires for JSA as IndusLaw Delhi disputes team moves over

by Nimitt Dixit |

Indian law firm J. Sagar Associates has continued its aggressive expansion in 2024 by adding another disputes team, this time a four-lawyer group from IndusLaw in Delhi led by partner Padmaja Kaul.