Trilegal advised Morgan Stanley Private Equity Asia, AZB & Partners Mumbai advised Alpha TC Holdings, and Wadia Ghandy advised the CVCI Group  in picking up a minority stake in Bangalore-based microfinance institution Janalakshmi for, according to the Economic Times, Rs 350 crore ($55m). Janalakshmi was advised by AZB Bangalore.

Trilegal Mumbai partners Sridhar Gorthi and Kosturi Ghosh with counsel Aninda Pal, senior associate Kaushik Rajan and associates Ipsita Chowdhury and Meera Sreekumar acted for Morgan Stanley.

Wadia Ghandy Bangalore partner Ankit Majumdar acted for the CVCI Group.

AZB Bangalore partner Srinath Dasari acted for Janalakshmi and its promoters Jana Urban Foundation and Ramesh Ramanathan.

Other investors that also picked up a stake in the urban microlender were QRG Enterprises, Enam Shares & Securities, Tree Line Asia Master Fund (Singapore), India Financial Inclusion Fund, Gawa Microfinance Fund 1 and Bellwether Microfinance Fund, according to a press release from Trilegal.

This was the fourth round of funding into Janalakshmi which has recently applied for its banking licence from the Reserve Bank of India, reported the ET, and it is the largest transaction in Indian microfinance since the 2010 Andhra crisis, according to the Business Standard.