Shardul Amarchand Mangaldas advises Visionary RCM Infotech on investment by Carlyle Group

Shardul Amarchand Mangaldas has advised Visionary RCM Infotech (VRCM) and its existing shareholders in relation to the transaction involving acquisition of majority stake in VRCM by Carlyle Group.

The Private Equity Group of the general corporate practice at Shardul Amarchand Mangaldas acted as the legal counsel for VRCM, its founder/ promoter, NEA Indo US Ventures and the other sellers.

The transaction team advised on all the legal aspects of the transaction including drafting, negotiation, and execution of the transaction documents, and providing general corporate advisory in relation to the transaction.

The transaction team was led by private equity partner Abhishek Guha, and included. Ekta Tyagi, Principal Associate, Aditi Tralshawala, Associate and Keegan Pavrey, Associate.

The parties involved in the transaction were Visionary RCM Infotech (India) Private Limited (investee company), Rajesh Surana (Founder and CEO, VRCM), NEA Indo US Ventures and other selling shareholders of VRCM. The investors in the transaction were Carlyle Growth Investments IV.

As a part of the transaction, investors led by Carlyle Group would be acquiring a majority controlling stake in VRCM through a combination of primary subscription to equity shares and purchase of shares from the existing shareholders of VRCM.

Other advisors to the transaction were J. Sagar Associates, Mumbai (legal counsel to Carlyle and Co-Investors), Avendus Capital Private Limited, Triple Tree LLC and PwC, Bangalore (tax advisor to the sellers), PwC, Mumbai (tax advisor to Carlyle).

The deal was signed on October 16, 2017 and closed on 21 December 2017.