Creador invests in Kogta Financial

Non-bank lender Kogta Financial (India) raised ₹3 billion (US$42.9 million) in its Series C funding round. The round was led by Creador and saw the participation of existing investor Morgan Stanley Private Equity. Trilegal advised Kogta and assisted in the review, negotiation and finalization of the transaction documents. The firm also supported the client on execution and provided closing assistance for the investment. The Trilegal team consisted of partner Kunal Chandra, counsel Harshil Dalal, senior associate Akshat Shrivastava and associate Akriti Gupta.

Khaitan & Co was counsel for Creador. The firm was represented by partner Monika Srivastava, principal associate Sanchit Agarwal and associate Abin Francis. Shardul Amarchand Mangaldas & Co advised Morgan Stanley Private Equity. The firm’s team included partner Nivedita Tiwari, senior associates Nandini Seth and Rajashree Ravi and associate Stuti Bhatnagar.

Dunzo holds Series D round

Delivery startup Dunzo raised US$45 million from its Series D fundraising. Lightbox Ventures, Google, 3L Capital and STIC Ventures participated in the funding round. Khaitan & Co advised Lightbox and conducted due diligence on Dunzo. The firm also acted as transaction counsel and drafted negotiated and finalised transaction documents. The Khaitan team included partner Vivek Sriram, principal associate Aastha Khurana and associate Vasundhra Minocha.

AZB & Partners advised Dunzo and the firm was represented by partner Anu Tiwari and senior associate Tanya Pahwa. The company plans to utilize the funds to build up its operations across the country.

FMO invests in Aavishkaar

Impact investor Aavishkaar Group announced an investment of ₹2.6 billion (US$36 million) by Dutch entrepreneurial development bank FMO. The investment was made through subscription of equity shares and cumulative compulsorily convertible preference shares of Aavishkaar.

Aavishkaar plans to utilize the investment to strengthen its ownership in its debt platforms and expand its business in Africa and Southeast Asia. S&R Associates represented Aavishkaar Group, led by partner Viral Mehta, with associates Pooja Singhania, Vidhi Sharma, Gunit Kaur and Sarangan Rajeshkumar. Khaitan & Co advised FMO and the firm was represented by partner Siddharth Shah, principal associate Vinita Choudhury, and associates Tanvi Arora and Saumya Kakkar.

FAL corporation offloads shares

FAL Corporation, a subsidiary of Fairfax, has sold 22.6 million shares worth US$362 million, held in ICICI Lombard General Insurance Company. The share sale took place after the Insurance Regulatory and Development Authority of India granted an exception to FAL in September 2019 for a five-year, lock-in period that would expire in March 2021 for the 40.2 million shares held by the company.

The shares amount to about 5% of the paid-up equity share capital of ICICI Lombard. AZB & Partners advised FAL and the firm was represented by partners Varoon Chandra, Arvind Ramesh and Richa Choudhary, and senior associate Rutunjay Singh.

Info Edge invests in HR company

Greytip Software, which operates a HR automation and payroll product, GreytHR, has raised a Series C fundraise of ₹34.5 million (US$482,000) from Info Edge, an Indian internet company that owns and operates well-known websites such as, and The round also had participation from existing investor MegaDelta Capital.

The Chennai team of IC Universal Legal represented Greytip in the transaction, and included partner Sameena Chatrapathy, senior associate Janani Dinesh, associates Aishwarya Mahesh and Adeeb Shah. subscripton ad red 2022