The Ministry of Power, Government of India, has put up its shares worth 2700 crore in National Hydro Power Corporation (NHPC) for an offer for sale on the stock exchanges in India. Crawford Bayley & Co. acted as Indian counsel for the government through Partner Sanjay Asher and Counsel Shikhil Suri. Duane Morris Selvam LLP, led by India Practice Head Jamie Benson, was US counsel for the Government of India. AZB & Partners acted for the brokers, through a team comprising Partner Madhurima Mukherjee, Senior Associate Agnik Bhattacharya, and Associate Kumar Prashant. The sale will bring the government’s shareholding in […]

Singapore Technologies Telemedia (STT) is buying a majority stake in Tata Communication’s data centre business at about 3130 crore ($640 million). Trilegal acted as Indian counsel for STT while Allen & Gledhill LLP acted as Singapore counsel and Latham & Watkins LLP acted as international counsel. Trilegal team was led Partners Anand Prasad and Upasana Rao along with Nitika Chhabra, Aayushi Sehgal and Jatin Vyas. Latham & Watkins LLP team included Partners Michael Sturrock and Sharon Lau and David Lee Allen & Gledhill LLP team included Michel Foo Su Mei and Angeline Neo Hui-Mei. Khaitan & Co acted as domestic counsel for […]

Education services provider DeVry has tied up with Kaizen Private Equity, an education sector focused PE fund, to acquire a majority stake in Indian professional certification and skill development focused player, EduPristine for around Rs. 54 crore. Nishith Desai Associates acted as legal counsel for DeVry through a team comprising Partner & Head of Education Practice Vivek Kathpalia, Head of the International Commercial Law Practice Huzefa Tavawalla, and Senior Associate Kartik Maheshwari. IndusLaw represented Kaizen through a team led by Partner Satya Akella. Samvad Partners advised EduPristine through a team led by Partner Vineetha MG. The deal marks the first major acquisition in […]

Financial services firm JM Financial Limited has agreed to acquire a 9.84% equity stake in peer-to-peer (P2P) lending marketplace Faircent for an undisclosed amount. BMR Legal advised JM Financial through a team comprising Partner Amit Khansaheb, Principal Nikhil Sachdeva and Associates Ravi Shankar Jha and Nikita Arora. Faircent was represented by an in-house legal team and PwC Corporate Finance. This deal comes in the wake of the Reserve Bank of India’s initiative to regulate the P2P lending market in the country. On April 28, RBI proposed registering P2P lending platforms as non-banking financial companies (NBFCs). The discussion paper is open for feedback […]

Vardhman Textiles Limited has sold its 40% stake in Vardhman Yarns and Threads Limited to its U.S. based joint venture partner American & Efird Global, LLC (A&E Global). Shardul Amarchand Mangaldas advised Vardhman Textiles. The M&A Team included Partner Gunjan Shah, Principal Associate Anuj Trivedi, and Associate Vipin Sharma. The Competition Law team was led by Partner Manika Brar, and included Senior Associate Rohan Arora and Associate Karan Latayan. J. Sagar Associates acted as Indian legal counsel for A&E Global through a team led by Partner Sandeep Mehta along with Principal Associate Malav Shah, Senior Associates Mitesh Shah and Adil Ladha and Associate Prannoy Semwal. McGuireWoods LLP advised A&E Global […]

Malaysia’s largest power utility player Tenaga Nasional Berhad has picked up a 30 per cent stake in GMR Energy’s select portfolio of assets for $300 million (2000 crore). Khaitan & Co acted as domestic legal counsel for Tenaga while Slaughter & May acted as international counsel. The Khaitan team was led by Associate Partner Akhil Bhatnagar along with Senior Associate Swathy Ramanath, with inputs and advice on certain deal issues by Partner Bharat Anand The Due Diligence team included Shivanshu Thaplyal, Prateek Bhandari, Divya Srikanth, Jhinook RoySuditi Surana, Nishant Prasad, Sagar B.M., Yashashree Mahajan, Ayush Nanda, Peshwan Jehangir and Ayush […]

MobiKwik Systems, mobile wallet company, has raised about $50 million (332 crore) in fresh capital, in a new round led by Japan’s GMO Payment Gateway and Taiwanese fabless semiconductor company MediaTek. The Series-C round, also saw participation from the company’s existing investors Sequoia Capital and Asia-focused hedge fund Tree Line Asia. BMR Legal acted for MobiKwik with a team led by Partner Amit Khansaheb along with Rishi Jain, Ankita Kumar and Tejas Patel. Shardul Amarchand Mangaldas acted for GMO and MediaTek and the team included Partner Nishant Joshi, Principal Associate Promode Morgavelu and Associate Ishita Bharadwaj. AZB & Partners acted for […]

Legal service provider, Elevate Services has acquired US-based legal tech company, OnRamp. Although the financial details surrounding the acquisition have not been disclosed, the move will see OnRamp’s CEO, Paul Lippe, joining Elevate’s advisory board. Elevate Services was advised by their in-house team led by General Counsel Daniel Coll. Elevate CEO,  Lokendra Tomar commented that the acquisition would help the company in a number of ways. “In the long term, Paul Lippe’s vision about how to leverage technology, including artificial intelligence, for the benefit of legal work will help to shape our strategy and best practices for years to come.”

Lenskart has raised a Series D round of investment of 400 crore from World Bank arm IFC along with the existing investors – TPG Growth, Adveq Management, IDG Ventures. Ratan Tata and Kris Gopalakrishnan (founders of Infosys) also participated in this round. IFC has invested 171 crore as the lead investor in this round, reports Mint. BMR Legal acted for Lenskart and its Promoters with a team led by Partner Amit Khansaheb along with Principal Rishi Jain and Managing Associate Tejas Patel. AZB & Partners acted for its long standing client – IFC, with a team led by Partners Gautam Saha and Shuchi […]