Partner | Corporate and Commercial, Mergers and Acquisitions, Private Equity, Financial Services
- T: +91 22 6636 5000
- E: Write to me
education
- B.B.A. LL.B., Symbiosis International University, Pune (2010) (Distinction)
- Solicitor of England & Wales
Ashraya Rao is a Partner in the Corporate, M&A and Private Equity Practice Group in the Mumbai office. Ashraya is dual-qualified in India (Advocate) and England & Wales (Solicitor of Senior Courts). With over 15 years of experience, his practice focuses on private and public M&A, private equity, cross-border transactions, strategic alliances and complex advisory on Indian corporate, securities, and foreign investment laws.
Ashraya has been recognised as a ‘Notable Practitioner for M&A’ by IFLR (2018 to 2024), ‘Key M&A Lawyer’ by Legal500 (2023 and 2024) and ‘Recommended for M&A’ by RSG India Report 2019.
Ashraya has also worked with Slaughter and May, London as a ‘visiting lawyer’ from September 2015 to March 2016, where he was involved in cross-border M&A and private equity transactions.
Professional Affiliations
- Bar Council of Maharashtra & Goa, India
- Law Society of England & Wales (Solicitor of Senior Courts)
- FICCI Young Leaders Forum
Recognition and Accomplishments
Ashraya has been acknowledged for his experience and expertise by:
• RSG as ‘Recommended for M&A’ (2019)
• IFLR 1000 as a Notable Practitioner for M&A (consistently from 2018 to 2024)
• Legal500 as ‘Key lawyer for M&A’ (2023 and 2024)
Representative Matters
Ashraya Rao has represented and advised the following clients
Haldiram Foods group, and its promoters, the Agarwal family
Advised on the minority secondary acquisitions by (i) Temasek, (ii) Alpha Wave Ventures, International Holdings Company P.J.S.C; and (iii) L Catterton India
Mahindra & Mahindra Ltd and it's group entities
Advised on (i) acquisition of controlling stake in SML Isuzu Ltd from Sumitomo and Isuzu; (ii) minority investments by British International Investment (formerly CDC Group) and Temasek in Mahindra Electric Mobility Limited; (iii) minority investments by International Finance Corporation and India-Japan Fund (managed by NIIF) in Mahindra Last Mile Mobility Limited; (iv) consolidation of the CIE group companies and the Mahindra Systech companies globally (involving investment, open offers, mergers and cross-border share exchange).
Balaji Wafers Limited and its promoters, the Virani family
Advised on the minority secondary acquisition by General Atlantic
Torrent group and its promoters
Advised on the acquisition of controlling stake of Gujarat Franchise of Indian Premier League, Irelia Sports India Pvt Ltd (Gujarat Titans) from CVC Capital
RPSG Ventures Limited
Advised on (i) successful bid for a new Indian Premier League Franchise (Lucknow Super Giants) and new South Africa 20 Franchise of Durban (Durban Super Giants), (ii) strategic partnership with Falguni Shane Peacock; and (iii) acquisition of 100% stake in Herbolab India Pvt Ltd.
Vitruvian Partners
Advised on its minority investment in Hiranandani Financial Services
Saregama India Limited
Advised on (i) strategic equity investment in Sanjay Leela Bhansali's Bhansali Productions Private Limited; and (ii) acquisition of controlling stake in Pocket Aces Private Limited
KPIT Technologies Ltd
Advised on (i) the sale of technology assets to Trentar; and (ii) acquisition of 100% stake in Caresoft's Global Engineering Solutions
Inox Leisure Ltd and its promotors
Advised on the proposed merger with PVR Ltd
IHH Healthcare Berhad and its group companies
Advised on its acquisition of controlling stake in Fortis Healthcare Limited
Blackstone Group
Advised on acquisition of (i) controlling stake in Simplilearn Solutions Pvt Ltd, (ii) minority investment in Financial Inclusion Network and Operations Limited; (iii) proposed acquisition of stake in wealth management division and asset management entities
Blackstone Group
Advised on acquisition of (i) controlling stake in Simplilearn Solutions Pvt Ltd, (ii) minority investment in Financial Inclusion Network and Operations Limited; (iii) proposed acquisition of stake in wealth management division and asset management entities
MetTube Group (including MetTube Mauritius and MetTube Copper India)
Advised on its 50:50 joint venture arrangement with Adani Enterprises Ltd for the copper tubes business
EdgeConneX, Inc and EQT Partner
Advised on the data centre JV with Adani Enterprises Limited and acquisitions by AdaniConnex
Apis Partners
Advised Apis Partners on its minority investments in D2C Consulting Services Pvt Ltd (RenewBuy) and Whizdm Innovations Private Limited (Moneyview)
Publications
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Ergo Update
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Ergo Newsflash
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News and Events
Ashraya Rao has featured in the following news and webinars
