JSA advises ixigo on its fundraising from GIC

J. Sagar Associates (JSA) advised ixigo (Le Travenues Technology Limited) in connection with private equity investment by GIC in Series C1 Preference Shares. GIC also purchased certain preference shares from an existing investor of ixigo, Fosun.

The transaction was challenging due to the following factors: 1. Short timelines due to the imminent public offering of equity shares of the client. 2. Balancing the amendments to the shareholder’s agreement in light of the requirements of the incoming investor along with changes needed in connection with the public offering of the client’s shares. 3. Multiple transactions were undertaken in parallel, resulting in various changes to the capital structure of the client.

JSA team comprised Joint Managing Partner – Vivek K. Chandy, Partner – Archana Tewary, Senior Associate – Aditi Aggarwal, Junior Associate – Sneha Mohanty.