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Amarchand Bom-Del-Chennai advise Warburg on record $200m jewelry investment oppos AZB

All that glitters does not bill (but it helps)
All that glitters does not bill (but it helps)

Amarchand Mangaldas together with Al Tamimi advised Warburg Pincus, which invested around Rs 1,200 crore for a 10 per cent stake in Kalyan Jewellers, advised by AZB & Partners.

Amarchand Mumbai managing partner Cyril Shroff, and partners Vandana Shroff and Vandana Sekhri led for Warburg, which subscribed to compulsorily convertible preference shares and purchase of equity shares from Kalyan’s promoters. The team also included Delhi partner Ranjan Negi on intellectual property issues, Chennai partner Dorothy Thomas on the real estate, and Mumbai partner Nisha Kaur Uberoi on competition law.

AZB & Partners fielded Mumbai partner Shuva Mandal for Kalyan and its promoters, alongside Axis Capital as financial advisors.

Warburg also used KPMG as financial and tax advisor, with Al Tamimi & Co UAE partner Gary Watts and senior associate Richard Catling as Middle Eastern law-related legal advisers.

The deal closed on 17 October and is one of the largest investments ever into the jewellery manufacturing segment, reported the Business Standard.

Photo by Jainamishra

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