S&R Associates is representing NSE Investments Limited, a wholly-owned subsidiary of National Stock Exchange of India Limited, in the INR 2.3 billion proposed sale of 100% of the equity share capital of NSEIT Limited, a subsidiary of NSE Investments engaged in the digital examination business, to CL Educate Limited, a listed education company. The proposed sale is subject to customary closing conditions. The transaction also involves additional deferred consideration of up to INR 750 million payable subject to achievement of certain business targets and other deferred consideration.
The S&R team is led by partners Rajat Sethi and Dhruv Nath, and includes associates Stuti Dhundia, Rishabh Uppal and Kopal Mital on corporate matters. Partner Sumit Bansal and associates Shivani Chhabra and Ankur Kishanpuria are advising on direct tax matters. Partner Ajinkya Gunjan Mishra and associate Avani Tewari are advising on indirect tax matters. Partner Aparna Ravi and associate Manan Sheth are advising on banking and finance matters. Partner Akshat Kulshrestha and associate Ritik Mohapatra advised on competition law matters. Counsel Reshma (Vaidya) Gupte is advising on intellectual property matters.