27 April 2024 | New Delhi: Shardul Amarchand Mangaldas advised ITC Infotech India Limited (“I3L), a wholly owned subsidiary of ITC Limited, on the acquisition of 100% stake in Blazeclan Technologies Private Limited and its subsidiaries (“Blazeclan”). The deal is valued at Rs. 485 crores and was signed on 18 April, 2024.
The transaction team was led by Rudra Kumar Pandey, Partner; Rohan Jain, Partner; Kshitij Arora, Principal Associate; Shruti Jaju, Associate; Shrutika Lakhotia, Associate and Anushri Joshi, Associate.
The due diligence team was led by Rohan Jain, Partner; Kriti Kaushik, Partner; Kshitij Arora, Principal Associate; Shruti Jaju, Associate; Shrutika Lakhotia, Associate; Manav Mehra, Associate and Sanskriti Nigam, Associate.
The tax team was led by Mr. Rahul Yadav, Counsel and Mr. Nimish Malpani, Senior Associate.
The competition team was led by Yaman Verma, Partner; Atreyee Sarkar, Principal Associate and Apurv Jain, Associate.
On the regulatory matters, Hemant Krishna, Partner, provided his guidance on the approach regrading regularization of filings related to export of software and Gopalkrishna Hegde, Consultant provided his inputs on FEMA related matters of the transaction.
HFW Australia, Altius and Bird and Bird acted as the foreign counselors to I3L with regard to the acquisition of stake in Australian, Belgian and Singapore subsidiaries of Blazeclan respectively.
Cyril Amarchand Mangaldas and foreign counsels namely, Dentons (Singapore), Shape Law (Belgium) and Damin Murdock (Australia) acted as the legal advisors to the Blazeclan.
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