AZB and Partners advised and assisted FSN E – Commerce Private Limited, operating under brandname ‘Nykaa’, and its promoters in acquisition of minority stake by TVS Shriram Growth Fund 1B together with certain other investors. The AZB team comprised of Partner, Nilanjana Singh and Senior Associate, Roxanne Anderson. FSN is promoted by Falguni Nayar, who earlier headed Kotak Mahindra Bank as its Managing Director, Investment Banking. FSN Ecommerce Ventures offers 35,000 products for women from over 350 brands across the globe. The company delivers more than 35,000 orders per month with over two million people visiting the website. TVS Capital, led by Srinivasan of the TVS Group, manages TVS Shriram Growth Fund which has over Rs 1,100 crore assets under management (AUM) across two schemes (1A&1B). The fund invests in companies in retail, healthcare, education, food and agriculture, FMCG and others. The company has completely deployed Fund 1A investments and has commenced investments in Fund 1B.