Khaitan & Co advised Aditya Birla Digital Fashion Ventures Limited ("ABDFVL"), a wholly owned subsidiary of Aditya Birla Fashion and Retail Limited on the acquisition of 15.62% equity stake in Imperial Online Services Private Limited ("Urbano Fashion") from its promoters, Naheed Muqeetulla, Mohammad Saadulla, Sameer Masarath and Mohammed Naveedulla by way of share purchase. With this acquisition, ABDFVL now holds 100% of the equity share capital of Urbano Fashion, having increased its shareholding from 84.38% to 100%. Urbano Fashion has now become a wholly owned subsidiary of ABDFVL.
Urbano Fashion, incorporated in 2012, operates in the fashion, apparel and accessories segment and is engaged in the manufacturing, marketing and distribution of fashion apparel under the 'Urbano' brand through both online and offline channels
The deal team comprised of Shourya Sengupta (Partner), Sneh Lata (Counsel), and Karishma Sethia (Senior Associate)
Khaitan & Co acted as the legal counsel to ABDFVL and advised and assisted them on drafting, negotiation, finalisation and execution of definitive agreements relating to the transaction.
Samisti Legal LLP advised the promoters on the deal.