Pranjita Barman

Pranjita has over 16 years of experience in mergers and acquisitions, private equity investments, corporate restructurings within the financial services sector with specialized focus on the insurance and non-banking financial company (NBFC) industries.

She has advised a diverse portfolio of domestic and international corporations on cross-border and domestic M&A, strategic corporate restructurings, joint ventures and pre-IPO investment rounds across key sectors including manufacturing, retail, information technology, banking and real estate. Additionally, Pranjita regularly counsels listed companies on ongoing regulatory compliance and corporate governance matters.

Since 2018, Pranjita has focused extensively on the insurance sector, advising on strategic investments, regulatory compliance, operations, management and control of insurance companies and intermediaries in India. Her key transactional experience includes advising Axis Bank Limited’s stake acquisitions in Axis Max Life and Go Digit Life, Central Bank’s stake acquisition in Generali Central Life and Generali Central Insurance, and demerger of insurance business of Bharti AXA into ICICI Lombard. Further, as a testament to her regulatory expertise, she was part of Cyril Amarchand Mangaldas team engaged to advise the Regulatory Reforms Committee (RRC) constituted by the Insurance Regulatory and Development Authority of India (IRDAI).

Complementing her insurance practice, Pranjita possesses extensive expertise in the NBFC space, regularly advising NBFCs on strategic growth, capital raises and regulatory mandates. Key transactions in this domain include advising Jio Financial Services in setting up joint venture with Bank of America, Axis Finance Limited on its investment round from Kedaara Capital and Kotak Mahindra Bank on its acquisition of microfinance lender Sonata Finance.

In the digital aspects space, Pranjita advises international and domestic entities on the regulatory aspects of Virtual Digital Assets (VDAs), including market entry strategies into India and the legal frameworks surrounding the deployment of stablecoins for cross-border remittances and payments.

Recent Experience

Financial Services:

Jio Financial Services Limited in relation to setting up of a joint venture with Bank of America (BofA) acquires up to 49.9% in Jio Credit Limited.
Dai-ichi Life Holdings Inc. in relation to the business consolidation between Girnar Insurance Brokers Limited (Insurance Dekho) and D2C Insurance Broking Limited (RenewBuy).
Axis Finance Limited in relation to its equity fund raise from Kedaara Capital.
Peak XV Partners in relation to its investment in Plum Benefits Private Limited, holding company of Plum Benefits Insurance Brokers Private Limited.
Central Bank of India in its acquisition of 25.18% in Generali Central Life Insurance Company Limited (formerly known as Future Generali India Life Insurance Company Limited) and 24.91% in Generali Central Insurance Company Limited (formerly known as Future Generali India Insurance Company Limited).
Axis Bank Limited and Axis Asset Management Company Limited in relation to the change in control of Axis Asset Management Company Limited and Axis Trustee Company Limited due to change in ultimate beneficial ownership of Schroders PlC.
Magma General Insurance Limited (erstwhile Magma HDI General Insurance Company Limited) in relation to the proposed transfer of equity shares by inter alia, Sanoti Properties LLP to, inter alia, Patanjali Ayurved Limited, S. R. Foundation.
Bain Capital on insurance related aspects of its investment in Manappuram Finance Limited, which has a wholly owned subsidiary Manappuram Insurance Brokers Limited.
Kotak Mahindra Bank in relation to its acquisition of 100% shareholding of Sonata Micro Finance Private Limited (Sonata), an NBFC-MFI and subsequent merger of Sonata with BSS Microfinance Private Limited.
Axis Bank Limited in relation to its in Go Digit Life Insurance Company Limited to acquire a stake of 9.9%.
Goldman Sachs Asset Management India Private Limited in relation to its investment in Girnar Insurance Brokers Private Limited.
Dai-ichi Life Holdings Inc. in relation to its investment in D2C Consulting Services Private Limited, holding company of D2C Insurance Broking Limited (RenewBuy).
ICICI Lombard General Insurance Company Limited, in relation to its acquisition of minority stake in NSE Ltd.
Standard Chartered Bank in relation to its global arrangements for distribution of insurance products with its international insurer partner Allianz.
Canada Pension Plan Investment Board (CPPIB) in relation to its investment in Acko Technologies and Services Private Limited (Acko), the holding company of Acko General Insurance Limited.
Leapfrog Investments in relation to its investment in Girnar Software Private Limited (Cardekho), holding company of Girnar Insurance Brokers Private Limited (Insurancedekho).
Axis Bank Limited, Axis Capital Limited and Axis Securities Limited in relation to their the acquisition of 13% shares of Max Life Insurance Company Limited and also acquisition of additional stake in Max Life Insurance Company Limited to dial-up their shareholding to 16.23%.
Bharti AXA General Insurance Company in the demerger with Bharti AXA General Insurance Company and ICICI Lombard General Insurance Company.
Navi Technologies Limited in the acquisition of 100% shares of DHFL General Insurance Limited by Navi Technologies Limited.
Aditya Birla Health Insurance Company Limited and its Indian promoter Aditya Birla Capital Limited in relation to a capital infusion by Abu Dhabi Investment Authority (ADIA).
Other M&A:
Karamtara Engineering Limited on its pre-IPO primary fund raise from Amara Partners Growth Fund – I (“Investor”).
Peak XV in relation to its investment in Xentury Technologies Pte. Ltd., which inter alia undertakes the business of providing stablecoin based cross border remittance services.
PropShare Capital Advisors Limited on sale of Propavenue Estate Private Limited and Instacoreasset Private Limited.
ICICI Bank Limited on acquisition of shares from Prudential Plc. as part of IPO of ICIC Prudential Asset Management Company Limited.
PropShare Investment Manager Private Limited on acquisition of SM REIT Properties from Godrej Limited prior to its IPO.
Sheela Foam Limited in the acquisition of 100% of Kurlon Enterprises Limited.
JSW Group in its entry into defence sector by acquisition of majority stake in Sarbloh Motors Private Limited and Gecko Motors Private Limited through JSW Multiventures Private Limited.
ABB Group in the acquisition of Power Grids Business of ABB Group by the Hitachi Group.
Intertape Polymer Group, USA in setting up a joint venture company in India with Capstone Polyweave Limited.
UltraTech Cement Limited in the acquisition of 12 cement plants of the Jaypee Group by UltraTech Cement Limited.
Yara Fertilizers Limited in the acquisition of Urea Business of Tata Chemical Limited by Yara Fertilizers Limited.
Vidhi Research & Development LLP in the acquisition of Pfizer Limited’s Business Undertaking by Vidhi Research & Development LLP.
Genesis Luxury Fashion Group in the private equity investment by L Capital Group and BCCL in Genesis Luxury Fashion Group.
DLF Group in the acquisition of private land in Worli by Lodha Developers Limited from the DLF Group.