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JSA, Amarchand, Wadia, Vichar act on NSE-CAMS $100m-ish share sale

J Sagar Associates (JSA) advised Chennai-based investor services company Computer Age Management Services (CAMS) and its selling shareholders in the National Stock Exchange’s (NSE) acquisition of a 45 per cent stake. The firm also advised CAMS in buying Sterling Software.

Amarchand Mangaldas advised the NSE, Wadia Ghandy advised one of the sellers – Advent Coral Singapore, while the other sellers HDFC, HDFC Bank and Acsys Software were advised by JSA.

Sterling was advised by Vichar Partners.

JSA Mumbai partners Somasekhar Sundaresan and Manisha Kumar and associates Bir Bahadur S Sachar and Delna Aga acted for CAMS and the sellers.

Amarchand Mumbai-based managing partner Cyril Shroff, corporate partner Vandana Sekhri, tax partner SR Patnaik and Chennai-based corporate partner Dorothy Thomas acted for the leading equity bourse’s strategic investment arm. NSE is India’s biggest bourse in terms of equity trade volume, according to VC Circle.

Wadia Ghandy Mumbai partner Xerxes Antia, senior associate Rohini Verma and associates Zeenia Vakil and Prasad Batavia acted for the Singapore unit of global private equity firm Advent International.

Vichar partner Aarthi Sivanand with associate Akshaya Suresh acted for Sterling.

CAMS was valued between Rs 1,200 crore to Rs 1,500 crore according to the Economic Times' sources. The ET also reported that the CAMS share sale could be in the range of Rs 540 to Rs 675 crore ($108m). The Bombay Stock Exchange had earlier proposed to buy 51 per cent stake in CAMS but couldn’t close the deal due to the Securities and Exchange Board of India’s (SEBI) conflict of interest restrictions, according to the ET.

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