JSA assisted LeapFrog Investments (“LeapFrog”) and Aavishkaar Capital (“Aavishkaar”) in their proposed investment in Electronica Finance Limited (“EFL”).
The transaction involves a primary investment by LeapFrog and Aavishkaar in the Series B round raised by EFL, and a secondary acquisition of shares by LeapFrog.
EFL is a part of the SRP Electronica Group, and is registered as a ‘middle-layer’ non-banking financial company with the Reserve Bank of India. EFL’s offerings include machine loans, business loans, rooftop solar loans, loans against property, institutional lending, working capital loans and loans to micro-enterprises. EFL currently has INR 4,000 crore in ‘assets under management’ and operates 215 branches across 15 states.
LeapFrog invests in healthcare, financial services and climate solutions businesses in high-growth global markets. Aavishkaar Capital is an impact fund manager focused on the global south.
The transaction was subject to a prior approval of the Reserve Bank of India, and will be closed after the 30-day regulatory notice period.
Our Transaction Team Comprised Lead Partner – Sidharrth Shankar, Partner – Prakriti Jaiswal, Principal Associate – Dhruv Malhotra and Associate – Jatin Oberoi, Pranav Rao N and Shubhankar Tiwari.
Our Competition Team Comprised Partner – Vaibhav Choukse and Ela Bali, Senior Associate – Aditi Khanna
Our Disputes Team Comprised Senior Associate – Avni Sharma.
Ela is a partner with JSA’s competition law practice with 10 years of experience. She represents and advises clients across different sectors on enforcement and merger control matters before the Competition Commission of India (CCI), National Company Law Appellate Tribunal (NCLAT), Delhi and Bombay High Court, and the Supreme Court of India (SC).
Prakriti specialises in mergers & cross border investments & acquisitions and private equity transactions. Her experience includes rendering advisory and structuring services on a variety of transactions including acquisitions of shares & business, private equity investments, joint ventures and corporate advisory.
Sidharrth specializes in General Corporate Commercial, Mergers & Acquisitions and Private Equity. He has been representing multi-national companies in cross-border transactions, advising on foreign direct investments, outbound investments, joint ventures, technology transfers, retail & franchising and commercial contract issues.
Vaibhav is a Partner with Firm’s Competition Law Practice with over 15 years’ experience.