SAM, Hogan Lovells assist Flipkart on USD3.6bn funding

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SAM, Hogan Lovells assist Flipkart on USD3.6bn funding

Shardul Amarchand Mangaldas & Co (SAM) and Hogan Lovells advised Flipkart in its recent USD3.6 billion funding round, which was led by financial investors GIC, Canada Pension Plan Investment Board, SoftBank Vision Fund 2 and Walmart. Cooley advised SoftBank Vision Fund 2.

The round also included investments from DisruptAD, the Qatar Investment Authority, and Malaysia’s sovereign fund, Khazanah Nasional.

Announcing the deal on 12 July, Flipkart said the investment valued the group at USD37.6 billion.

SAM’s team comprised: Partners Raghubir Menon and Ekta Gupta, senior associates Aditya Parolia and Tanya Choudhary, and associates Rooha Khurshid, Palak Dubey and Madhurika Durge (transaction); partners Shweta Shroff Chopra and Yaman Verma (competition); partner Anuj Berry (dispute resolution); and partners Prashant Gupta and Nikhil Naredi, principal associate Devesh K, and associates Ajo Jomy and Harini Jambunathan (capital markets).

Hogan Lovells’ team was led by its Singapore-based partner Stephanie Keen, and included counsel Danielle Wu and associates Mark Vincent and Amelia Lee.

Cooley’s team was led by partner Matthew Bartus and included associates Michael Marietta and Susan Choy.

About USD800 million of the latest funding reportedly came from the Canada Pension Plan Investment Board. Walmart majority-owned Flipkart said with this investment it “would continue to make deeper investments across people, technology, supply chain and infrastructure to address the requirements of a rapidly growing consumer base in India”.