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Steadview Capital Sells Unacademy Securities, Acquires upGrad Securities in Share Swap; SAM & Co Advises

Steadview Capital Sells Unacademy Securities, Acquires upGrad Securities in Share Swap; SAM & Co Advises

Shardul Amarchand Mangaldas & Co.
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Bhumika Indulia

Bhumika Indulia is a qualified lawyer and legal editor with over 13 years of experience in law, legal publishing, and regulatory compliance. Her work focuses on clear, accurate legal reporting and analysis across legislation, case law, and criminal law reforms, alongside expertise in areas such as data privacy and cyber security. In June 2025, she founded The Bar Bulletin as an independent platform dedicated to informed, credible, and accessible legal discourse.

Shardul Amarchand Mangaldas & Co (SAM) advised Steadview Capital in relation to the sale of securities held by Steadview Capital in Sorting Hat Technologies Private Limited (“Unacademy”) in exchange of acquisition of securities of upGrad Education Private Limited (“upGrad”) by way of a share swap transaction.

As part of the transaction, upGrad acquired 100% of the share capital of Unacademy from its existing shareholders in consideration for the issuance of upGrad securities, deal valued at approximately USD 206 million. The transaction also contemplates the eventual merger of Unacademy into upGrad.

The SAM team was led by Harshita Srivastava, Partner, and Vidhisha Ambade, Senior Associate.

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