“Non-banking financial company Northern Arc Capital Ltd said on Tuesday that it has secured a fresh investment of Rs 910 crore (around $130 million) from a clutch of institutional investors,” reported VCCircle. Investors include IIFL Special Opportunities Fund and its Series managed by IIFL Asset Management Limited, Standard Chartered Bank (Singapore Branch) and Affirma Capital, comprising both primary and secondary rounds.

Khaitan & Co advised Northern Arc Capital Limited led by a team of partner Akshay Bhargav, principal associate Vidushi Gupta and associate Tanvi Arora.

Update 29 March 2019: J Sagar Associates (JSA) advised IIFL Special Opportunities Fund led by a team of partner Manav Raheja and associate Gaurav Matta. The competition law aspects were advised by partner Vaibhav Choukse, principal associate Unnati Agrawal and associate Akanksha Mehta.

Update 05 April 2019: Cyril Amarchand Mangaldas represented exiting investor LeapFrog Financial Inclusion India (II) Ltd in the transaction, led by partner Akshay Jeet Bhat, and including principal associates Sharada Ramachandra and Saurav Samaddar. Tax advice was provided by partner S R Patnaik.

2019-03-26

Deal value: USD 132 million

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.