Argus, SAM, AZB act on $3bn Bandhan-Gruh Finance acquisition (with HDFC in the wings)

Tuesday, 8 January 2019 By Legally India Corporate M&A

“Gruh Finance To Merge With Bandhan Bank: Bandhan Bank to merge with Gruh Finance in share swap deal,” reported Bloombergquint.

Argus Partners advised Gruh Finance led by managing partner Krishnava Dutt, partner Adity Chaudhury, partner Arka Majumdar along with associates Ashish Patel, Kshitija Naik, Deeya Ray, Riya Dutta, Shradha Rakhecha, Prithwish Roy Chowdhury, Amishi Magdani and Ayushi Jain, with help from senior associate Vishesh Arora and associate Abhay Jain.

Shardul Amarchand Mangaldas acted for Bandhan Bank with partners Raghubir Menon and Anirban Bhattacharya.

AZB & Partners acted for HDFC, which is the majority shareholder in Gruh, and will own nearly 15% in the merged entity. The team was led by managing partner Zia Mody, partners Ashwath Rau and Anu Tiwari and senior associates Vipul Jain, Himanshoo Tembe, Aditya Alok and Tanya Pahwa, and associate Saras Muzumdar.

Argus PartnersShardul Amarchand MangaldasAZB & Partners

Comments

Not AB 8 Jan 2019, 09:06
+8 -10
Well done AB and Adity!
SDVK 9 Jan 2019, 04:14
+5 -0
Setting the record straight here - Luthra was the preferred counsel of Bandhan but was conflicted.
ZRS 9 Jan 2019, 08:03
+9 -1
Even I was the preferred actor for a big budget movie but was conflicted as I am now a lawyer ;(
Banh-mi 9 Jan 2019, 08:04
+1 -1
Even the strongest lawyer-client "bandhan", is subject to the vagaries of conflict. Clearly, Chinese walls were not deemed "bank"-able enough.
Hehe 9 Jan 2019, 11:11
+5 -1
In Indian firms, Chinese walls end of the day are as solid as the Made in China products!!!
God of Deals 8 Jan 2019, 15:13
+2 -18
Anu Tiwari is the spark that makes all deals happen a.k.a. a Chingari
Nonsense 10 Jan 2019, 02:29
+8 -1
Do check this with anyone from one of the many law firms involved. A different (but not surprising!) story will emerge.
Errata 9 Jan 2019, 13:11
+3 -0
It is HDFC and not HDFC Bank. Very different entities.
kianganz 9 Jan 2019, 13:29
+1 -0
Thank you, have corrected!
Alias 9 Jan 2019, 17:28
+15 -1
Again the entire Argus firm was involved in a deal?
R Ghosh 11 Jan 2019, 04:13
+2 -8
Really? you think the entire Argus' strength is 3 Partners and some 10 associates?

Good for them then that, with such a miniscule strength they are able to land deals like this one or Tata Steel - Usha Martin transaction. Must be doing something right then.

Bhai, if you cannot congratulate the team for being part of a marquee transaction, at least stop passing snide comments Na.
Halka SAM 14 Jan 2019, 18:28
+1 -1
How come the Argus and AZB teams are so large in comparison to SAM? Only Raghubir and Anirban in a deal this size? Any clue who else was involved from SAM? By the way, has anyone been following Anirban's deals? Have heard good things about him.
Lawyer28 19 Jan 2019, 18:49
+9 -0
Not aware of how these teams work but for some reason Argus always ends up with more team members than any other law firm. Sounds inefficient at best.
Commenting is closed for this article.