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AZB, JSA, CAM on $66m 4% buy of SBI General Insurance by Axis fund

Acquisition by Axis New Opportunities AIF – I and PI Opportunities Fund – I and Premji Invest of approximately 4% stake in SBI General from State Bank of India, as reported by NDTV and others.

AZB & Partners advised Axis New Opportunities AIF – I, a scheme of Axis Alternative Investment Fund - Category II led by partners Ashwath Rau and Prerak Ved, and associate Siddhartha Das.

Update 15 October 2018: J Sagar Associates (JSA) acted for State Bank of India (SBI) and SBI General Insurance Company Limited led by joint managing partner Dina Wadia, partners Anjana Potti, Manav Raheja and Soumitra Majumdar, associate Ronak Shah and junior associate Gaurav Matta. A competition team of partner Vaibhav Choukse and senior associate Ela Bali advised on the CCI approvals.

Update 16 October 2018: Cyril Amarchand Mangaldas acted for Premji Invest via its PI Opportunities Fund I, buying a 2.35% stake, led by Bangalore-based partner Maheshwari Sundaresh.


This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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