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 […]

Sheroes, a women-oriented career platform company, has raised 12 crore in Series A funding by Lumis Partners, the HR fund, Rajul Garg and existing investors Quintillion Media. Vertices Partners acted for Sheroes; the team was led by Partners Vinayak Burman and Archana Khosla, and included Associates Tanvi Pande and Vivek Bajoria. DSK Legal represented Lumis through a team of Partners Tushar Ajinkya and Maneesh Upadhyay, along with Associate Prachi Gupta. BMR Legal acted for the existing investor Quintillion Media with a team led by Partner Amit Khansaheb. According to ET, Sheroes is looking to expand its footprint from 12,000 companies to […]

US-based private equity firm TA Associates has invested about $140 million to pick up a stake in Indian women’s ethnic wear firm TCNS Clothing, which runs the ‘W’ brand stores. Venture capital and growth equity investor Matrix Partners has also taken out its five-year-old investment in this transaction. BMR Legal acted for the Promoters, Company and Management Shareholders. The team was led by Partner Amit Khansaheb, along with Principal Rishi Jain, Managing Associate Tejas Patel, Senior Associate Karn Gupta and Associate Mayank Malhotra. AZB & Partners acted as domestic counsel for TA Associates, while Goodwin Procter acted as international counsel. […]

Indian messenger app Hike has raised $175 million from Chinese Internet giant Tencent Holdings Ltd and Foxconn Technology Group of Taiwan. AZB & Partners acted for Hike through a team headed by Partner Rachit Bahl and including Senior Associates Rohan Bagai, Tanvi Sinha and Varun Lamba, as well as Associates Atima Mukherjee, Shagun Badhwar and Shobhika Upadhyay. Latham & Watkins acted as counsel for Tencent, through Associate Julia Dai. Sidley Austin LLP represented Foxconn through Foreign Legal Consultant Vivek R Baid. Platinum Partners acted as the Indian legal counsel for both Tencent Holdings and Foxconn Technology Group. The Platinum team […]

Aditya Birla Nuvo Ltd (ABNL) will merge with Grasim Industries Ltd in a bid to unlock shareholder value and create a $9 billion (Rs 59,766 crore) enterprise. With the merger, the Aditya Birla Group decided to hive off its financial services business into a separate entity, which will be listed later. Khaitan & Co acted as legal advisors for the overall transaction. The team was led by Senior Partner Haigreve Khaitan, Partner Mehul Shah, Associate Partner Sameer Sah, Senior Associate Pranay Bagdi and Associate Aman Yagnik. Securities’ aspects: Sudhir Bassi (Executive Director), Arindam Ghosh (Partner) and Moin Ladha (Associate Partner) […]

Warburg Pincus has invested $125 million in Indian logistics company Stellar Value Chain Solutions. AZB & Partners acted for Warburg through a team led by Partners Anil Kasturi and Aparna Mittal and including Senior Associates Anisha Shridhar and Kanchan Puri. Economic Laws Practice acted for Stellar and the team included Partners Sujjain Talwar, Darshan Upadhyay, Aakanksha Joshi and Associate Megha Agarwal. According to ET, Stellar Value Chain is founded and led by Anshuman Singh, who previously set up and led Future Supply Chain Solutions for Kishore Biyani’s Future Group.

Tata Group has sold its Urea business, part of Tata Chemicals to Pune-based Yara Fertilizers India for Rs 2,670 crore ($400 million). AZB & Partners acted for Tata Group with a team led by Partners Darshika Kothari, Rishi Gautam and Anand Shah along with Senior Associate Shriram Shah. Cyril Amarchand Mangaldas advised Yara Fertilizers with a team led by Mumbai-based corporate partners Tushar Mavani and Smruti Shah. Mumbai based dispute resolution partner Sharad Mathkar and competition law partner Bharat Budholia advised on litigation and competition law aspects, respectively. Tax partners S.R. Patnaik and Mekhala Anand advised on taxation matters whereas corporate and real estate […]

Barely week’s after her official start at AZB & Partners, Competition co-head Nisha Kaur Uberoi has managed to get the mandate of Aditya Birla’s Ultratech to the firm. Uberoi headed a team which has got phase 1 merger clearance from the Competition Commission of India over UltraTech Cement’s acquisition of Jaiprakash Associates’ cement plants. The acquisition has an enterprise value of Rs. 16,189 crore ($2.4 billion). The AZB team was led by Partner Nisha Kaur Uberoi along with Senior Associate Soumya Hariharan, and Associate Atreyee Sarkar. The CCI filing was made in April this year when Uberoi was part of […]

In the biggest consolidation in India’s private insurance sector, Max Life Insurance and Max Financial Services will merge into HDFC Standard Life Insurance, reported ET. AZB & Partners acted for its long standing client Max Life Insurance and Max Financial Services, with a team led by Delhi Partners Anil Kasturi and Niladri Maulik along with  Senior Associates Jaishree Tolani Lamba, Ashish Pareek, Abhiroop Datta, and Kanchan Puri and Associates Ankit Bhasin, Shreya Basu, and Paras Chopra. Strategic Advisory: Ajay Bahl The Competition team was led by Partner Samir Gandhi, along with Senior Associate Kamya Rajagopal, and Associate Shashank Sharma. Tax: Partner Ravi Prakash Intellectual Property: […]

India-focused private equity fund CX Partners and Capital Square Partners have exited their investment in BPO firm Minacs by selling it to US-based Synnex Corp for $420 million, reported Mint. Shearman & Sterling and Platinum Partners advised CX Partners and Capital Square Partners The Shearman & Sterling team was led by Partner Sidharth Bhasin (Singapore-M&A) and includes partners Jessica Delbaum (New York-Antitrust), Kenneth Laverriere (New York-Compensation, Governance & ERISA), Richard Hsu (Menlo Park-Intellectual Property Transactions), Daryl Chew (Singapore-International Arbitration), Laurence Crouch (Menlo Park-Tax), and Sarah Priestley (London-Tax). Platinum Partners team was led by Partner Ankit Majmudar. Veritas Legal and Pillsbury […]