Private equity firm TA Associates has acquired a minority stake in India’s largest online payments services company, BillDesk for an undisclosed amount..Khaitan & Co. advised TA Associates with a team led by Partner Aakash Choubey while Goodwin Procter LLP acted as International legal advisor to its long standing client, TA Associates..AZB & Partners advised BillDesk with a team led by Partner Essaji Vahanvati..According to VCCircle, BillDesk offers online payment services for utility bills, credit card, depository account charges and ISP charges. It is part of IndiaIdeas.com Ltd, founded in early 2000 by three ex-Arthur Andersen professionals. As of August 2011, BillDesk had 45 banks and financial institutions as its clients, as well as 250-300 large billers (all major telecom operators), around 20 electricity companies, 30 insurance firms, key travel companies and large, pure play e-commerce platforms..For TA Associates, this would be its fifth investment in the country. Its average ticket size in India ranges between $45 million and $125 million. The Boston-headquartered private equity firm, which globally manages more than $16 billion in capital, has been operating in a mid-market deal-making space in India..In 2010, TA Associates had invested in Micromax and Dr. Lal Pathlabs. TA Associates, had made a minority investment of close to Rs. 225 crore ($45 million) in Indian mobile handset provider, Micromax Informatics Limited. TA Associates was advised by Lexygen and Goodwin Procter LLP while IndusLaw advised Micromax..In August 2010, TA Associates had invested Rs. 163 crore ($35 million) to acquire nearly 16 percent stake in Dr. Lal Pathlabs. TA Associates purchased it from Sequoia Capital who had invested in Lal Pathlabs since 2005..Lexygen and Goodwin Procter LLP acted as joint legal advisors to TA Associates. Luthra & Luthra advised Dr. Lal PathLabs while AZB & Partners represented Sequoia Capital.
Private equity firm TA Associates has acquired a minority stake in India’s largest online payments services company, BillDesk for an undisclosed amount..Khaitan & Co. advised TA Associates with a team led by Partner Aakash Choubey while Goodwin Procter LLP acted as International legal advisor to its long standing client, TA Associates..AZB & Partners advised BillDesk with a team led by Partner Essaji Vahanvati..According to VCCircle, BillDesk offers online payment services for utility bills, credit card, depository account charges and ISP charges. It is part of IndiaIdeas.com Ltd, founded in early 2000 by three ex-Arthur Andersen professionals. As of August 2011, BillDesk had 45 banks and financial institutions as its clients, as well as 250-300 large billers (all major telecom operators), around 20 electricity companies, 30 insurance firms, key travel companies and large, pure play e-commerce platforms..For TA Associates, this would be its fifth investment in the country. Its average ticket size in India ranges between $45 million and $125 million. The Boston-headquartered private equity firm, which globally manages more than $16 billion in capital, has been operating in a mid-market deal-making space in India..In 2010, TA Associates had invested in Micromax and Dr. Lal Pathlabs. TA Associates, had made a minority investment of close to Rs. 225 crore ($45 million) in Indian mobile handset provider, Micromax Informatics Limited. TA Associates was advised by Lexygen and Goodwin Procter LLP while IndusLaw advised Micromax..In August 2010, TA Associates had invested Rs. 163 crore ($35 million) to acquire nearly 16 percent stake in Dr. Lal Pathlabs. TA Associates purchased it from Sequoia Capital who had invested in Lal Pathlabs since 2005..Lexygen and Goodwin Procter LLP acted as joint legal advisors to TA Associates. Luthra & Luthra advised Dr. Lal PathLabs while AZB & Partners represented Sequoia Capital.
