J. Sagar Associates (JSA) advised Cars24 (India’s leading e-commerce platform for pre-owned vehicles) in its Series F equity round of USD 340 million (approx. INR 2,500 crores).
The Series F equity round was led by DST Global, Falcon Edge and SoftBank Vision Fund 2. The round also saw participation by Tencent and existing investors Moore Strategic Ventures and Exor Seeds. Alongside equity, Cars24 also raised a debt of USD 110 million.
Post this fund raise, Cars24 has nearly doubled its valuation to USD 1.84 billion.
The JSA Team comprised Lead Partner – Trisheet Chatterjee, Partners – Zain Pandit and Sarvesh Kumar Saluja, and Associate Aratrika Nandi.
Partner – Vaibhav Choukse, and Principal Associate – Ela Bali advised on competition law issues, Partner – Minu Dwivedi, and Associate – Shreya Chowdhury advised on employment law-related aspects.
Ela is a partner with JSA’s competition law practice with 10 years of experience. She represents and advises clients across different sectors on enforcement and merger control matters before the Competition Commission of India (CCI), National Company Law Appellate Tribunal (NCLAT), Delhi and Bombay High Court, and the Supreme Court of India (SC).
Minu has work experience of 19 years. Her practice area is General Corporate and Commercial with special focus on Labour and Employment, White Collar Crimes, FCPA, Anti-Corruption and Anti-Bribery, Disciplinary and Other Workplace Investigations, POSH, Ethics, HR, and Corporate Governance.
Sarvesh has been engaged in several transactions and projects as a senior member of legal teams handling diverse aspects of corporate and commercial laws.
Trisheet’s practice encompasses diverse areas of Corporate Commercial laws with a specific focus on Cross Border Mergers & Acquisitions, Joint Ventures, Corporate Restructuring and General Corporate Advisory.
Vaibhav is heading the Firm’s Competition Law Practice and has been practicing competition law since its inception in India. He focuses on complex enforcement/ litigation and merger control cases and represents and advises clients on a broad range of competition law issues spanning across several sectors.
Zain is a member of the firm’s corporate practice. His practice focuses on corporate governance, business structuring and restructuring, public procurements as well as mergers and acquisitions.