US-based PE firm TA Associates, has announced that it has acquired a minority stake of 40% in Ahmedabad-based distributor of mutual funds and other wealth products, Prudent Corporate Advisory Services for an undisclosed sum, as reported by VC Circle and The Economic Times.

DSK Legal advised and assisted TA Associates in conducting the due diligence along with the drafting, negotiating, revising and finalizing the agreements and other documents related to the transaction, led by founding partner Satish Kishanchandani, partner Pritha Jha, principal associate Sanket Jain and senior associate Taskeen Hamid. The due diligence team comprised of senior associates Shoubhik Dasgupta and Taskeen Hamid together with associates Neil Lopez and Tanya Singh.

An Ahmedabad based team of Shardul Amarchand Mangaldas acted for Prudent Corporate Advisory Services and the sellers, represented by partner Pankaj Agarwal and associate Yash Kothari.

Founded in 2001 and headquartered in Ahmedbad, Prudent provides personal and corporate investment planning services through the distribution of mutual funds, bonds, broking and insurance products, operating in a total of 70 branches across 19 states in India.

2018-07-13