ITC Infotech India Limited, a wholly owned subsidiary of ITC Limited, has acquired 100% stake in Blazeclan Technologies Private Limited and its subsidiaries for ₹485 crore.
Shardul Amarchand Mangaldas & Co advised ITC Infotech on this acquisition deal.
The transaction team was led by Rudra Kumar Pandey, Partner; Rohan Jain, Partner; Kshitij Arora, Principal Associate; Shruti Jaju, Associate; Shrutika Lakhotia, Associate and Anushri Joshi, Associate.
The due diligence team was led by Rohan Jain, Partner; Kriti Kaushik, Partner; Kshitij Arora, Principal Associate; Shruti Jaju, Associate; Shrutika Lakhotia, Associate; Manav Mehra, Associate and Sanskriti Nigam, Associate.
The tax team was led by Rahul Yadav, Counsel and Nimish Malpani, Senior Associate.
The competition team was led by Yaman Verma, Partner; Atreyee Sarkar, Principal Associate and Apurv Jain, Associate.
Hemant Krishna, Partner, advised on technology laws related aspects.
Gopalkrishna Hegde, Consultant provided his inputs on FEMA-related matters of the transaction.
HFW Australia, Altius and Bird and Bird acted as the foreign counselors to I3L with regard to the acquisition of stake in Australian, Belgian and Singapore subsidiaries of Blazeclan respectively.
Cyril Amarchand Mangaldas and foreign counsels namely, Dentons (Singapore), Shape Law (Belgium) and Damin Murdock (Australia) acted as the legal advisors to the Blazeclan.
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