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The Private Equity wing of Motilal Oswal has agreed to invest Rs. 110 crore to buy a significant minority stake in Bengaluru-based Dairy Classic Ice Creams.
|Deal||Motilal Oswal invest 110 crore in Dairy Classic|
|Value||110 crore ($16 million)|
|Law Firms||PDS Legal – Dairy Classic; Nishith Desai Associates – Motilal Oswal|
|Partners/Heads||PDS Legal – Vihang Virkar; Nishith Desai Associates – Ruchir Sinha|
PDS Legal acted for Dairy Classic Ice Creams with a team led by Partner Vihang Virkar, Executive Director Monika Deshmukh, Senior Associate Shailesh Ayachit and Associate Akhil Shri Shri Mal.
Nishith Desai Associates advised Motilal Oswal and the team consisted of Co-Head of Private Equity and M&A Ruchir Sinha, Senior Associate Arun Scaria and Associates Dipanshu Singhal and Amudavalli Kannan.
According to ET, Motilal Oswal is in the process of raising up to $300 million from offshore investors for its third private equity fund. The Mumbai-based alternate asset manager had raised its maiden fund of $125 million in 2007-08 and another $155 million three years ago.