Cyril Amarchand Mangaldas advised BofA Securities India Limited, which acted as the broker in relation to the sale of equity shares by SVF India Holdings (Cayman) Limited, member of the SoftBank Group, of One 97 Communications Limited on the screen based trading platform of the BSE and NSE.

The Capital Markets Practice of Cyril Amarchand Mangaldas advised BofA Securities India Limited on the transaction. The transaction was led by Abhinav Kumar, Partner & Regional Head Markets Practice Western Region; with support from Aashima Johur, Principal Associate.

The Transaction involved sale of 29,350,000 equity shares of One 97 Communications Limited by SVF India Holdings (Cayman) Limited, by way of a share sale on the screen-based trading platform of the Stock Exchanges. This comprised a sale of 4.5% stake by SVF India Holdings (Cayman) Limited in the Company for a reported aggregate amount of USD 200 million

Other parties and advisors to the transaction included Sidley Austin LLP (acted as international legal counsel to the broker) Khaitan & Co LLP (acted as Indian counsel to the seller) and Walkers (Cayman) LLP (acted as Cayman counsel to the seller).