Deal Closed | O(1) India Private Limited | Khaitan & Co
The details of the deal are as follows:
Sector: Internet Retail, eCommerce
Announcement Date: 14-Jun-2021
Name of Client: O(1) India Private Limited
Investor Details: Glance InMobi Pte Ltd | Singapore | Investor
Seller Details: O(1) INDIA PRIVATE LIMITED | India | Abhinav Jain
Aditya Gupta | Kalpak Chajjed | Ramakant Sharma | Raghunandan Ganappa | India
Paylater Partners Pte Ltd | Singapore
Deal Description: Advised O(1) India Private Limited, its founders, and Angel Investors in relation to the sale of their respective shareholding to Glance InMobi Pte Ltd, a subsidiary of InMobi Group and a portfolio company of Google, in Shop101 through a mix of cash and equity. The entire team of Shop101, including the founders (Abhinav Jain, Aditya Gupta, Kalpak Chajjed), will continue being in the employment of O(1) India Private Limited and power social commerce efforts of Glance through Glance and Roposo platforms. The transaction also provided an exit through a mix of cash and equity to existing investors of O(1) India Private Limited, viz. Kalaari Capital Partners III LLC; Vy Fund I. L.P; Stellaris Venture Partners India I; and Unilever Ventures Holdings B.V.
Total Consideration: Confidential
Team Members: Surbhi Kejriwal (Partner), Kevin Shah (Principal Associate), Srijanee Bhattacherjee (Senior Associate)
Role of Firm: Assisted the Founders, the Angel Investors and the Company in relation to the sale of Shop101 to Glance InMobi Pte. Ltd.
Other legal advisors if any with names of Lead Lawyers:
Unique Feature of Transaction
The transaction is a 100% transfer of the shareholding of the target entity (O(1) India Private Limited) to the acquirer (Glance InMobi Pte Ltd) wherein the acquirer entered into separate SPAs with each investor. The investors were commercially segregated into Founders, Angel Investors and Other Investors. The firm advised on the transaction with the Founders and the Angel Investors.
