JSA provided comprehensive end to end transactional assistance to Apax Digital Fund II (“Apax”) in its strategic investment in Greytip Software Private Limited (“ Company”), a cloud-based HR and payroll software company, popularly known as greytHR. This was the Company’s largest funding round so far. Apax now holds a controlling stake of 52.1% in the Company.
The transaction consisted of a primary as well as a secondary component, including providing an exit to the largest and oldest shareholders, MegaDelta Capital and Blume Ventures.
This investment will fuel growth, enable market expansion, and enhance AI capabilities. greytHR aims to optimize customer experience and R&D efforts through upskilling and innovative product development.
JSA’s role included providing extensive support across all aspects of the transaction starting from term sheet discussions to closing. The due diligence and negotiation involved striking a balance between the requirements of an incoming majority investor, the Company’s needs and the intent to create a successful partnership going forward. This required meticulous problem-solving and attention to detail on all aspects , including procuring a buy-side W&I insurance to reduce liabilities for the Company.
Notably, the deal was also closed in a swift and timebound manner, keeping in mind the interests of all concerned parties, including the exiting investors.
Our Transaction Team Comprised Lead Partner – Probir Roy Chowdhury, Partner – Yajas Setlur, Senior Associates – Pranavi Pera and Soumya Bhargava Associates – Bhargavi Kuchewar, Nikhil George and Moushami Nayak.
Probir specializes in Corporate Commercial, Venture/Private Equity and Information Technology/FinTech. He has been involved in corporate transactions focused on the high technology industry including cross border Mergers & Acquisitions.