Khaitan & Co advised a consortium led by Bandhan Financial Holdings Limited (i.e., Bandhan Bank’s promoter NOFHC) in its proposed acquisition of a controlling stake in IDFC Asset Management Company Limited and IDFC AMC Trustee Company Limited. 

The consortium comprised BFHL, GIC and ChrysCapital and the deal value is approximately INR 4500 Crores. The consortium was selected through a highly competitive divestment process which witnessed strong participation from strategic players and financial investors. 

This has been a highly tracked acquisition and will be the largest deal in the Indian asset management industry till date. The proposed acquisition is subject to receipt of necessary regulatory approvals and customary closing conditions.

The deal was led by Partners Saswat Subasit and Shourya Sengupta with Director Sumit Chakraborty along with the core deal team of Sneh Lata (Senior Associate), Sruti Baid (Senior Associate) and Saranya Mishra (Associate) with assistance from Dipen Chatterjee (Partner), Supratim Chakraborty (Partner), Saptarshi Mandal (Senior Associate) and Keshav Tibarewalla (Associate) on structuring advice and due diligence aspects; Anshul Prakash (Partner), Abhinav Rastogi (Counsel) and Archika Dudhwewala (Senior Associate) on employment law aspects and Siddharth Shah (Partner), Vivek Mimani (Partner) and Rohit Jayaraman (Counsel) on SEBI regulatory aspects.