Mumbai/Delhi, Jan 10 (IANS): India's largest full-service law firm Cyril Amarchand Mangaldas acted as the legal counsel to Softbank Vision Fund on a primary investment of $200 million in the Series G funding round of One97 Communications Limited (One97).
One97 is the parent company of Indian digital payments leader Paytm. The payment platform is currently serving merchants in over 2,000 towns and cities spanning across 650 districts in India. With this investment, the company hopes to bring low-cost mobile enabled financial services to rural India.
One97 raised $1 billion in this round, which also saw participation from Alibaba Group (Alipay and Ant Financial), T. Rowe Price Associates, Inc and Discovery Capital.
Other advisors involved in the transaction include Morrison & Foerster LLP. The transaction was done on December 17, 2019.