Italy based LU-VE S.p.A  has signed a binding agreement to acquire 95% shares of Spirotech Heat Exchanges, an Indian company manufacturing and selling heat exchanger coils. The acquisition, which is worth about €31.92 million for 95% of the shares, will be undertaken by through LU-VE India. BMR Legal, acted as domestic counsels for LU-VE with a team lead by Partner Amit Khansaheb along with Principal Associate Nikhil Sachdeva, Senior Associate Rahul Chugh and Associate Mayank Malhotra. Studio Biscozzi Nobili, acted as international counsels for LU-VE with a team led by Partner Giancarlo Cortese  and Associate Cristiana Visco. J. Sagar Associates acted for Spirotech, with a team including Partner Manvinder Singh and Associate Upasana Gupta. […]

Naspers-owned online payments service provider PayU has bought Mumbai-based rival Citrus Pay for $130 million (865 crore). This is one of the biggest deals in the country’s emerging financial technology space, creating a new entity that will compete with Alibaba-backed Paytm, Snapdeal-owned FreeCharge and MobiKwik, reported ET. IndusLaw advised PayU and the team included Partner Srinivas Katta along with Principal Associate, Winnie Shekar and Senior Associate, Ashi Bhat. Partner, Avimukt Dar advised on competition law issues while Partner, Avik Biswas advised on employment law issues. P C Legal acted for Citrus Pay with a team led by Partner Vishnu Jerome along […]

Non-banking financial company Altico Capital has invested 300 crore ($45 million) in a township project of Pune-based developer Kumar Urban Ltd. Argus Partners advised Altico Capital with a team led by Partner Aastha along with Apurv Sharma, Ammu Charles, Abhijeet Saxena, Aman Gupta and Vishesh Arora. Juris Corp acted for Kumar Urban Ltd with a team led by Partner Avikshit Moral along with Almitra Gupta and Apurva Kanvinde. The investment has gone to residential township project KUL Ecoloch which is located near Hinjewadi in Pune, reported VCCircle.

Anil Ambani-controlled Reliance Communications Ltd (R-Com) has signed a definitive agreement to merge its wireless business with telecom operator Aircel, marking the first move toward consolidation in the space. This merger would create India’s third largest telecom operator by users, reported Mint. J. Sagar Associates advised R-Com with a team led by Partners Sandeep Mehta, Rajesh Pal, Manav Raheja, Nitin Kala; along with Principal Associate Malav Shah; Senior Associate Aarti Iyer and Associates Prannoy Semwal, Ashrafi Ginwala and Malini Rao. Khaitan & Co acted for Aircel and the team included Partners Haigreve Khaitan, Mehul Shah and Niren Patel. Cyril Amarchand Mangaldas acted for […]

Nutanix, enterprise cloud computing company, has acquired DevOps Automation platform, Calm.io for an undisclosed amount. Luthra & Luthra Law Offices advised Nutanix with a team led by Partner Shinoj Koshy. Themis Associates advised Calm.io with a team led by Montu Bashambu. Post-acquisition, both the companies plan to combine Nutanix’s design-first vision and Calm.io’s application-centric approach and bring application mobility across hybrid clouds, reported Yourstory.

The Chan-Zuckerberg Initiative (CZI), is making its first investment in Bengaluru based Byju’s, a learning app. CZI will co-invest in the $50-million round along with Sequoia Capital, Lightspeed Ventures and Times Internet. ALMT Legal acted for Byju with a team led by Partners Dhanya Menon and Arindam Basu. Chan Zuckerberg Education Initiative and the Sequoia group were advised by Themis Law Associates’ Principal Associate Dheeraj Khanna. BMR Legal acted for Lightspeed Ventures with a team led by Partner Amit Khansaheb along with Principal Associate Rishi Jain and Managing Associate Tejas Patel.

Piramal Fund Management is investing 2,320 crore in Lodha Developers’ signature World Towers project in central Mumbai. The investment could be the single largest debt-financing deal in Indian real estate, reported Mint. Shardul Amarchand Mangaldas advised Piramal Fund Management with a team led by Partners Radhika Pereira and Sapan Gupta. AZB & Partners acted for Lodha Group with a team led by Partner Sai Krishna Bharathan and Senior Associate Sugandha Asthana. A part of this money will be used to repay debt and the remaining will be used to complete construction of the project. Another portion of the funds will be […]

South African tech company Net1 has invested close to 268 crore in Indian digital payment company MobiKwik. BMR Legal represented MobiKwik and its promoters through a team led by Partner Amit Khansaheb, and including Principal Rishi Jain, Managing Associate Ankita Kumar and Associate Manav Chadha. Desai Diwanji was Indian counsel for Net1 through Partner Jai Diwanji and Associate Rahul Deodhar. Cliffe Dekker Hofmeyr (CDH) was the South African counsel for Net1; the team was led by Director Roelof Bonnet. AZB & Partners acted for the existing investors,Tree Line Asia and Cisco, through a team led by Partner Gautam Saha. According to Business […]

Dialysis provider NephroPlus has raised 100 crore from SeaLink Capital Partners and existing investor International Finance Corporation in a round of Series C funding. BMR Legal acted for the promotors of NephroPlus, through a team led by Partner Amit Khansaheb, along with Principal Nikhil Sachdeva, Senior Associate Rahul Chugh and Associate Mayank Malhotra. AZB & Partners in Mumbai advised SeaLink, through Partner Ashwin Ramanathan, Senior Associate Meghal Mehta and Associate Gaurav Rohra. The Delhi office of AZB acted for IFC, through Partner Gautam Saha and Senior Associate Dushyant Bagga. According to Business Standard, NephroPlus had earlier received funding of 60 […]

In the first high yield issue of its kind, the Greenko Group, based in Hyderabad, has raised $500 million through the sale of green bonds to foreign investors. Deutsche Bank, Investec, JP Morgan, Morgan Stanley and UBS acted as the joint book runners and lead managers to the issue. Cyril Amarchand Mangaldas acted as Indian legal counsel to Greenko, through a team led by Partners Santosh Janakiram and Gaurav Gupte. Shearman & Sterling acted as New York counsel for Greenko. The team was led by Partner Andrew Schleider and also included Counsel Eileen O’ Pray, Associates Jeremy Wang and Leo […]