AZB & Partners, Delhi advised Max India and its promoters in the $ 150 million (Rs. 690 crore) transaction. Delhi-based partner Anil Kasturi, led the AZB team comprising Senior Associate Thomas Phillipe and Associate Neha Sahai.  

Amarchand Mangaldas represented Goldman Sachs in their investment of $ 115 million (Rs. 530 crore) into Max India through subscription to fully and compulsorily convertible debentures. When converted, Sacs will hold about 9.4 percent of Max India’s share capital.

The promoters, Analjit Singh and PE firm, Warburg Pincus are investing about $ 37 million (Rs. 173 crore) by subscribing to the warrants of the company. This ensures that the promoters continue to hold 34 percent in Max India.

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