Cyril Amarchand Mangaldas advises Aditya Birla Health Insurance on fundraise from ADIA

August 13, 2022 23:30 IST | ANI Press Release
Tennis player James Blake
Cyril Amarchand Mangaldas

Mumbai (Maharashtra) [India], August 13 (ANI/BusinessWire India): Cyril Amarchand Mangaldas advised and assisted Aditya Birla Health Insurance Company Limited (ABHI), and the promoter Aditya Birla Capital Limited on INR 665 crore fundraise from Abu Dhabi Investment Authority (ADIA), one of the major sovereign wealth funds in the world. ABHI is a joint venture between Aditya Birla Group and South Africa-based Momentum Metropolitan Holdings.

Cyril Amarchand Mangaldas advised and assisted ABHI and its promoter Aditya Birla Capital Limited on the due diligence, review, and finalization of the transaction documents. The transaction team was led by Indranath Bishnu, Partner; with support from Niyati Dholakiya, Senior Associate; Shaleen Tiwary, Senior Associate Designate; Soumyaditya Dasgupta, Associate and Shravan Belsare, Associate.

The vendor due diligence exercise was led by; Pranjita Barman, Partner; with support from Niyati Dholakiya, Senior Associate; Ila Vyas, Senior Associate; Soumyaditya Dasgupta, Associate; Ayushi Agarwal, Associate and Shravan Belsare, Associate.

Ankita Ray, Partner; with support from Mansi Mantoo, Principal Associate and Soumyashree Chowdhury, Associate advised on the employment aspects of the vendor due diligence.

As a part of the transaction, ADIA will infuse infused INR 665 crores in ABHI through a primary issuance for a 9.99 per cent minority stake. The completion of the transaction is subject to statutory and regulatory approvals including approval from the Insurance Regulatory and Development Authority of India.

The transaction was signed on August 11, 2022.

This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)


Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor