JSA advised and assisted Spayee Labs Private Limited (“Spayee”) and its Founders (Gourav Kakkar, Aniruddha Singh, Vijay Singh and Sandeep Singh) with the sale of 100% of their stake in Spayee to Sorting Hat Technologies Private Limited (“Unacademy”). Times Internet Limited and other existing investor of Spayee received successful exit as part of this transaction. Pursuant to this deal, Spayee team and Graphy (part of Unacademy group) aim to empower brick-and-mortar educators through digitization and build the world’s largest creator community. JSA’s role in this transaction involved providing structuring advise from corporate and tax perspective, end to end assistance on multiple transaction documents and assistance to Spayee and Founders with the logistics in relation to three back-to-back closings. JSA also advised and negotiated the terms of Founders’ engagement with Unacademy post this acquisition.
The deal value was 25 Million USD
JSA lead team comprised Partner – Kartik Jain, Associate – Kanchan Modak, Company Secretary – Deepti Verma, Partner – Kumarmanglam Vijay, and Associate – Shiv Singhal.
Kartik’s key focus area is Mergers & Acquisitions as well Private Equity transactions. He has assisted clients from the inception of the acquisition, contributed during negotiations and helped in completion of the transaction.
Kumarmanglam is an equity partner of the firm and also heads the direct tax and regulatory practice at JSA. He has more than 25 years of experience in matters relating to direct taxation (including international taxation, transfer pricing, litigation, anti-avoidance laws, and M&A tax), accounting, and corporate laws including mergers and acquisition, joint ventures, foreign investments, market entry strategy, and corporate restructuring.