Billionbrains Garage Ventures Limited (“Groww”) has acquired 100% of the issued and paid-up share capital of Finwizard Technology Private Limited (“Fisdom”) from its existing shareholder Quona Capital, for $150 million.
The deal also incorporates a post-closing rights issue to fund ESOP settlements, ensuring a clean exit for legacy shareholders.
CMS INDUSLAW advised Quona Capital on the sale of its entire stake in Fisdom to Groww.
The transaction team consisted of Winnie Shekhar (Partner), Rajat Jain (Principal Associate) and Arnab Chakraborty (Associate).
Shardul Amarchand Mangaldas & Co advised Groww on this acquisition.
The transaction team was led by Raghubir Menon (Regional Practice Head – M&A, PE), with support from Ekta Gupta (Partner), Shiladitya Banerjee (Partner), Tarumoy Chaudhuri (Partner), Rooha Khurshid (Principal Associate), Devangana Mandal (Senior Associate), Ketayun Mistry (Associate), Rhea Reddy (Associate).
The Due Diligence was undertaken by Shiladitya Banerjee (Partner) Tarumoy Chaudhari (Principal Associate), Ketayun Mistry (Associate), Rhea Reddy (Associate).
Rohan Arora (Partner) and Aman Singh Sethi (Partner) advised on competition law related aspects of the deal.
Cyril Amarchand Mangaldas advised Fisdom and the promoters of Fisdom on this transaction.
The transaction team was led by Ravindra Bandhakavi (Senior Partner) and Anandita Kaushik (Partner), with support from Radhika Shukla (Senior Associate), Sudarshan Srikanth (Senior Associate), Associates Ketan Jain, Nitika More, Satwik Anand, and Suhani Agarwal.
Arya Tripathy (Partner), with support from Aishwarya Joshi (Associate) advised on data privacy related aspects of the transaction.
Fisdom is a leading Bengaluru-based wealth management platform the offers a comprehensive suite of wealth management solutions, including mutual funds, stocks, bonds, portfolio management services (PMS), and tax filing solutions.
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