Khaitan & Co, Shardul Amarchand Mangaldas act on BNP Paribas Cardif acquiring stake in IndiaFirst Life Insurance

IBC 5 Aug 2026 · Completed· ◔ Reported

BNP Paribas Cardif has acquired approximately 26% stake in IndiaFirst Life Insurance Company Limited from Carmel Point Investments Ltd (Warburg Pincus holding company), subject to requisite approvals from the IRDAI and the Competition Commission of India. The transaction involved a unique pre-closing restructuring exercise, wherein Carmel Point India Investments underwent voluntary liquidation, followed by an in specie distribution of its assets, including its shareholding in IndiaFirst Life Insurance Company, to its parent entity as a condition precedent to the proposed acquisition. Khaitan & Co advised BNP Paribas Cardif on this stake acquisition. The Firm provided end-to-end legal…

CounselShardul Amarchand Mangaldas, Khaitan & Co
SectorBFSI

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