CAM, Veritas act on the Kedaara Capital’s proposed investment of INR 750 cr in Axis Finance

Kedaara Capital has invested through two entities, one being a resident entity and the other being a non-resident entity - Kedaara Capital Fund IV AIF and Kedaara Pearl Holding, respectively.

ETLegalWorld

Published On Apr 29, 2026 at 02:50 PM IST

Veritas Legal has advised Kedaara Capital on its proposed investment of INR 750 Crores in Axis Finance and Axis Bank. Cyril Amarchand Mangaldas guided Axis Finance and Axis Bank on this transaction.

Kedaara Capital has invested through two entities, one being a resident entity and the other being a non-resident entity - Kedaara Capital Fund IV AIF and Kedaara Pearl Holding, respectively.

This primary capital infusion by Kedaara Capital remains subject to customary regulatory approvals.

This is in addition to the INR 1,500 crore primary raise through a rights issue, which was approved by Axis Finance board of directors on April 17, 2026. This capital raise is the largest primary raise of Axis Finance till date.

Advt Axis Finance is a public limited company registered as a systemically important non-deposit taking NBFC with the Reserve Bank of India and is classified as a NBFC - Middle Layer (NBFC-ML).

As on the execution date, Axis Bank holds 100 percent of the share capital of Axis Finance. The transaction involves a proposed primary investment by Kedaara Capital in Axis Finance as growth capital, comprising a subscription to approximately 5 percent of the issued and subscribed paid-up share capital of the Company, for an aggregate consideration of approximately INR 750 Crores.

Veritas’ deal team was led by founding and managing partner Abhijit Joshi and partner Natasha Sethna. The transaction team included principal associate Avadhoot Potnis and associates Kashish Gupta and Dhruv Mehta.

Veritas’ due diligence team included principal associate Ashwin Mehta, senior associates Anamika and Akriti Gupta and associates Kashish Gupta, Hriday Chokshi, Vidhi Basrani, Dhruv Mehta and Devishi Sarawgi.

CAM’s deal team was led by partner Pranjita Barman with support from principal associate Anirud Sudarsan R and assistance from senior associates Ayushi Agrawal and Shravan Belsare, and associates Subhalaxmi Hota, Raajash Kulmi, Pooja V and Abhishek Chandel, they advised on key considerations for structuring and finalizing binding documentation.

Senior Partner L Vishwanathan provided strategic inputs. Partner Gaurav Gupte with the assistance from associate Ilina Peehu advised Axis Bank on regulatory aspects.

Advt Partner Pranjita Barman with support from principal associate Anirud Sudarsan R, and Shaleen Tiwari, senior associates Soumyaditya Dasgupta, Ayushi Agrawal and Shravan Belsare, and associates Subhalaxmi Hota, Saakshi Tibrewal, Raajash Kulmi, Pooja V and Abhishek Chandel, undertook vendor due diligence for Axis Finance.

Partner Soumya Kumar with the assistance from principal associate Ankita Sharma and associates Nilavan S and Shivika Gupta assisted with the employment law related aspects of the vendor due diligence.

(Co-Head - Digital | TMT) Partner Arun Prabhu with the assistance from senior associate Nidhi Jhawar, and associates Mansi Jain and Kanav Khanna assisted with the IT/ IP related aspects of the vendor due diligence.

Partner Vijay Pratap Singh Chauhan with the assistance from senior consultant Anshul Jain, senior associate Ananya Mahant, and associate Varun S advised on competition law aspects.