Desai & Diwanji advised Fidelity Capital in the sale of its equity in Laurus Labs, which was advised by Amarchand Mangaldas, to Warburg Pincus which was advised by AZB & partners.

Desai & Diwanji Mumbai partners Vihang Virkar and Aneesh Gupte and associate partner Jolly Abraham acted for Fidelity.

Amarchand Mangaldas Bangalore partner Arjun Lall, senior associate Madhumita Sheshadri and associate Manya Shrivardhan acted for Laurus Labs.

AZB Mumbai partner Essaji Vahanvati and associate Sayak Maity acted for Warburg Pincus.

Warburg will pick up a fourth of Laurus for $125m - $150m and Fidelity had invested Rs 200 crore in Laurus in 2012, reported the ET.