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Amarchand, Wadia Ghandy guide JP Morgan fund’s $25m exit in Raheja builders

Amarchand Mangaldas has advised J P Morgan India’s real estate investment fund on its partial Rs 115.23 crore ($25.4m) exit in B Raheja Builders to builder group K Raheja, which hired Wadia Ghandy as legal counsel.

Amarchand Mumbai-based partners Ashwath Rau and Vandana Pai Bharucha led the transaction for the fund J P Morgan India Property Mauritius Company II.

Wadia Ghandy partner Ashish Ahuja acted for the buyer group K Raheja.

Companies of the Mumbai-based real estate construction and development company B. Raheja group sold all their shares and J P Morgan India Property Mauritius Company II sold part of the shares it held to the K Raheja Group, which also took a primary subscription of shares, stated Amarchand in a release.

The deal closed on 26 November.

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