Religare Enterprises Ltd is selling its entire 80% stake in Religare Health Insurance Co to a consortium of investors led by private equity firm True North. This deal values Religare Health Insurance Company Limited at Rs. 1300 crores. Dalmia Group is also one of the investors and part of the consortium. Luthra & Luthra advised Religare as the lead counsel with a team led by Partner Alina Arora along with Senior Associate Samarth Gupta and Associates Apurva Zutshi and Parth Singh. Cyril Amarchand Mangaldas also assisted Religare on the diligence related aspects of the deal with a team lead by Partners Radhika Gaggar and […]
Canada Pension Plan Investment Board (CPPIB) and Phoenix Mills have formed a strategic investment platform to develop, own and operate retail-led mixed-use developments across the country. CPPIB will initially own 30 per cent of the platform with an equity commitment of around Rs 724 crore. CPPIB plans to invest around Rs 1,600 crore, in multiple tranches, to own up to 49 per cent stake, reported Business Standard. Cyril Amarchand Mangaldas acted as Indian legal advisors for CPPIB with a team led by Partner Shagoofa Khan while Torys LLP acted as International legal advisors and the team was led by Partner Jared Fontaine. Khaitan & Co advised Phoenix with a […]
Dabur family-owned HealthCare at Home Private Limited (HHPL) has raised $40 million worth private equity investment from Asia Pacific-based Quadria Capital. Deal HCAH recieves funding from Quadria Capital Value $40 million/ ₹2.5 billion Deal Type PE Sector Health Care Law Firms HHPL – AZB & Partners; Quadria Capital – Trilegal Heads/ Partners AZB – Gautam Saha & Amrita Patnaik; Trilegal- Ravindra Bandhakavi HHPL was advised by AZB & Partners through a team comprising of Partners Gautam Saha and Amrita Patnaik along with Senior Associate Roy George. Quadria Capital was advised by Trilegal through a team led by Partner Ravindra Bandhakavi.
Ujjivan Financial Services Limited (UFS), one of the ten entities to receive an in-principle approval to set up small finance bank from the Reserve Bank of India, has become the fifth entity to have commenced business as a small finance bank on February 1, 2017. The setting up required transfer of the existing lending and financing business of UFS, a public listed NBFC-MFI, to its wholly owned subsidiary, Ujjivan Small Finance Bank. Indus Law advised UFS during the process of transfer through a team led by Partners Srinivas Katta, V. Srinivas Raghavan and Avik Biswas along with Associates Namita Vishwanath, […]
M Power Micro Finance Pvt Ltd, a Maharashtra-based NBFC, has raised ₹18 crore through a primary and a secondary route of investment from IndiaNivesh Capital Ltd . M Power was represented by Vertices Partners through a team led by Partner Archana Khosla and Associates Tanvi Pande, Nirav Punjani & Neelesh Anand. IndiaNivesh was represented through its internal legal team led by Jinesh Doshi.
Private equity firm Multiples Alternate Asset Management Private Limited (Multiples) has acquired a majority stake in HR technology and solutions provider, PeopleStrong HR Services Private Limited (PeopleStrong) with an investment of around ₹400 crore. Deal Multiples acquires majority stake in PeopleStrong Value ₹400 crore Deal Type PE/ M&A Sector HR Law Firms Multiples- J Sagar Associates; PeopleStrong- Argus Partners Partners/ Heads JSA – Aarthi Sivanandh, Argus – Krishnava Dutt, Adity Chaudhury Multiples was advised by J. Sagar Associates through a team led by Partner Aarthi Sivanandh along with Principle Associate Bhavana Elizabeth Alexander and Associates Bharath Sridhar, Kayal Manivannan, Anu Ganesan and Sahana Chandrika. PeopleStrong was advised by […]
EdTech startup, Testbook Edu Solutions Private Limited has received funding from venture capital firm Matrix Partners based in Mauritius. Deal Testbook receives Series A funding from Matrix Partners Value Undisclosed Deal Type PE Sector EdTech Law Firms Testbook – Fox Mandal and Associates; Matrix Partners – Rajaram Legal Partners/Heads Fox Mandal- Jeevanandham Rajagopal; Matrix Partners – Archana Rajaram, Priyadarshani Sherchan Testbook was advised by Fox Mandal and Associates through a team led by Partner Jeevanandham Rajagopal along with Senior Associate Vidya Sunderam and Matrix Partners was advised by Rajaram Legal through a team comprising of Partners Archana Rajaram and Priyadarshani Sherchan. The company […]
The Manitou group is acquiring Terex Equipment Private Limited (TEPL), a part of the Terex Group’s compact construction business. Deal Manitou group to acquire TEPL Value Undisclosed Deal Type M&A Sector Manufacturing Law Firms Manitou Group – Advaita Legal, Cleary, Gottlieb, Steen & Hamilton; TEPL – Khaitan & Co Partners/ Heads Advaita Legal – Satyajit Gupta; Cleary, Gottlieb – Fabrice Baumgartner; Khaitan & Co – Zakir Merchant. Advaita Legal acted as Indian legal counsel to Manitou group through a team led by Principal Satyajit Gupta and Cleary, Gottlieb, Steen & Hamilton acted as legal counsel on NY law through a team led by […]
PE Firm Capital International has bought 3% stake in Intas Pharmaceuticals from ChrysCapital , for an estimated value of ₹690 crore ($107 million). ChrysCapital will continue to hold 3% in Intas. Deal Capital International buys 3% stake in Intas Pharmaceuticals Value ₹690 crore Sector Pharmaceuticals Deal Type PE Law Firms Capital International – Khaitan & Co, Debevoise & Plimption; ChrysCapital – Platinum Partners; Intas Pharmaceuticals – J Sagar Associates Partners/Heads Khaitan & Co – Vinay Joy; Debevoise & Plimption – William Y Chua; Platinum Partners- Ankit Majmudar; JSA- Rinku Ambekar Khaitan & Co acted as domestic legal advisors to Capital International with […]
Specialty steel maker Mukand Ltd and Sumitomo Corporation of Japan have signed an agreement to form a joint venture that will set up a rolling mill in Karnataka. Deal Mukand Ltd and Sumitomo Corp enter into a JV Value ₹ 28.2 billion Deal Type Joint Venture Sector Manufacturing (Steel) Law Firms Sumitomo Corporation – Trilegal; Mukand Ltd – Argus Partners Partners/Heads Trilegal – Sridhar Gorthi, Kunal Chandra; Argus Partners – Krishnava Dutt, Adity Chaudhury Sumitomo Corporation was advised by Trilegal through a team led by Partners Sridhar Gorthi and Kunal Chandra along with Senior Associate Kabeer Mathur and Associates Aditi Jain […]
Private equity firm True North has invested approximately $200 million in Kerala Institute of Medical Sciences (KIMS), a healthcare group. This investment will be for the stake held by Ascent Capital Advisors India Pvt Ltd and OrbiMed Advisors LLC and as a primary capital infusion to fund the growth plans of KIMS Group. Deal KIMS receives private funding from True North Value $200 million approx. Deal Type PE Sector Healthcare Law Firms KIMS – ALMT Legal; True North- DSK Legal; Ascent Capital and Orbimed Asia Mauritius- Indus Law Partners/Heads ALMT Legal – Dhanya Menon and Arindam Basu; DSK Legal – Satish […]
FIH Mauritius Investments Limited (FIHM), a Fairfax group entity, has acquired 33% equity share capital of Bangalore International Airport Limited (BIAL), a GVK group company, and another 5% of the airport from Flughafen Zürich AG. Deal FIHM acquires 38% in Bangalore Airport Value USD 385 million Deal type M&A Sector Civil Aviation- Airport Law Firms FIHM- AZB & Partners ; BIAL-Cyril Amarchand Mangaldas; Flughafen Zürich AG – Khaitan & Co and White & Case Partners/ Heads AZB – Ashwin Ramanathan FIHM, the acquirer was advised by AZB & Partners through a team led by Partner Ashwin Ramanathan along with Associates Shivanand Nayak and Abhishek Banerji. GVK had said […]
Just three months after closing its last round, Bangalore-based ed-tech startup Think and Learn Private Limited, under the brand name Byju’s has raised approximately $30 million from Belgian family office Verlinvest. Deal Byju raises investment from Verlinvest Value $30 million Deal Type PE Sector EdTech Law Firms ALMT Legal – Think and Learn; Lexygen – Verlinvest Heads/ Partners ALMT Legal – Dhanya Menon and Arindam Basu; Lexygen- Vijay Sambhamurthi Think and Learn was advised by ALMT Legal through a team led by partners Dhanya Menon and Arindam Basu, while Vernlinvest was advised by Lexygen through a team led by Vijay Sambhamurthi. Verlinvest’s investment follows […]
AgroStar, an e-commerce marketplace for buying farming goods and resources has raised $10 million in a series B round led by Accel India with participation from existing investors like IDG Ventures and Aavishkaar. Deal AgroStar raises Series B investment from Accel India Value $10 million Deal Type PE Sector Agri-tech Law Firms IDG Ventures & Agrostar – K law; Accel- Indus Law Partners/ Heads K Law – Abhinav Singh; Indus Law – Nitin Gera Agrostar and IDG Ventures were advised by K Law through a team led by Partner Abhinav Singh along with Senior Associate Puneet Parihar and Assoicate Keertan Sreekumar. Accel was […]
Marico Ltd has acquired a 45% stake in Zed Lifestyle Pvt. Ltd, a start up which owns the brand Beardo. Beardo is a men’s grooming brand that sells beard oils, beard waxes, soaps and other grooming products for men’s facial hair. Deal Marico acquires 45% stake in Beardo Value Confidential Deal Type M&A Sector FMCG Law Firms Marico- Krishnamurthy & Co.; Zed Lifestyle- ALMT Legal Partners/Heads K Law- Krishna Venkat; ALMT Legal- Gaurav Shrawat Marico was advised by Krishnamurthy & Co. through a team led by Partner Krishna Venkat along with Associate Arjun Menon and Zed Lifestyle was advised by ALMT Legal […]
ALMT Legal has advised InPadel Sports Private Limited (InPadel) in its endeavour to introduce the sport of Padel Tennis to India. Bangalore-based Sports and Media Law Partner Souvik Paul Mazumdar led the advisory team. InPadel is the first Company to introduce the sport of Padel in India and is intending to promote and expand the sport across India at a very high and competitive level.
Singhania & Co. has entered into a joint venture with an Italian Law Firm – CBA Studio Legale e Tributario. The agreement was signed last Friday at the Consulate General of Italy in Mumbai. The agreement particularly aims at promoting cross border M&A operations, joint ventures and partnerships among enterprises of the two countries. With more than 120 professionals operating in offices in Milan, Rome, Padua, Venice and Munich, CBA is one of the main tax and law firm in Italy and provides its clients with high-value services through a partner-led approach. Angelo Bonissoni, CBA Managing Partner, in the release commented […]
Real estate developer RMZ Corp has entered into a joint venture with the Hyderabad-based My Home Group to develop premium commercial office space in the city. Deal My Home Group enters into a JV with RMZ Group Value Over $1 billion Sector Real Estate Deal Type JV Law Firms Trilegal-My Home Group; Cyril Amarchand Mangaldas (Corporate aspects), Tatva Legal (Real Estate aspects) & BMR Legal (Tax aspects)- RMZ Group Partners/Heads Trilegal-Pavan Kumar; CAM-Reeba Chacko Trilegal advised My Home Group through a team led by Partner Pavan Kumar, Senior Associate Dennis John and Associate John Mathew. RMZ Group was advised by Cyril Amarchand Mangaldas […]
The board of Idea Cellular has approved the merger of Vodafone India Ltd and its wholly-owned arm Vodafone Mobile Services with the company, creating the largest telecom merger, reported PTI. The merged entity will have a revenue of Rs. 81,592 crore ($12.1 Billion) as per the documents filed before the Stock Exchanges. Deal Idea merges with Vodafone Value Undisclosed Sector Telecom Deal Type M&A Law Firms Vodafone S&R Associates, Shardul Amarchand Mangaldas, Slaughter & May; Idea Vaish Associates, AZB & Partners, Bharucha & Partners Heads/Partners S&R Associates – Rajat Sethi and Tanya Aggarwal; Shardul Amarchand Mangaldas – Shweta Shroff Chopra and Harman […]
Private equity investor KKR has invested around Rs. 670 crore ($97.10 million) in coaching firm Resonance Eduventures Ltd. The structured finance deal has provided an exit to existing investors – CLSA Capital Partners, ICICI Ventures and Milestone Private Equity Fund. P&C Legal advised KKR while VERTICES PARTNERS advised Resonance Eduventures and the Promoters. The P&C Legal team was led by Partners Vishnu Jerome and Shameek Ray along with Senior Associate Smriti Biradar, Associates Aaryaman Aashind and Surya Kumar Geda. VERTICES PARTNERS team was led by Partners Vinayak Burman and Archana Khosla along with Associates Nirav Punjani and Hamraj Singh. CLSA […]
Canara Bank has sold 13.45% stake in CanFin Homes Ltd to Singapore-based Caladium Investment Pvt Ltd, an affiliate of GIC, Singapore’s Sovereign Wealth Fund. Deal Caladium Investment acquires 13.45% stake in Can Fin Homes Value ₹753.77 crore Sector Banking Deal Type M&A Law Firms Dua Associates – Canara Bank; Shardul Amarchand Mangaldas– Caladium Investments/ GIC Head/Partners Dua Associates- Srinivas B.R.,Karan Ajitsaria, Kunal Mehra; SAM- Raghubir Menon, Shweta Shroff Chopra, Aparna Mehra Dua Associates advised Canara Bank through a team led by Partner Srinivas B.R. along with FEMA perspective provided by Partner Karan Ajitsaria. Partner Kunal Mehra advised on Competition law aspect along with Associates Churmathi M., Sharan Balasubramaniyam […]
Ideal Cures, a supplier of ready-to-use coating products and excipients for tablets and capsules to the pharmaceutical and allied industries, received a private equity investment from TA Associates. Deal TA Associates invest in Ideal Cures Value Undisclosed Sector Pharmaceutical Deal Type PE Law Firms K Law– Ideal cures; DSK Legal– TA Associates Heads/Partners K Law- Sankar Narayan Swamy; DSK Legal- Satish Kishanchandani, Pritha Jha Ideal Cures was advised by K Law through a team led by Partner Sankar Narayan Swamy along with Senior Associate Aparnaa Bhalotia DSK Legal advised TA Associates through a team led by Founding Partner Satish Kishanchandani along with Partner Pritha […]
The Bangalore office of ALMT Legal advised India Electronic Development Fund (IEDF), India’s first private equity (category I SEBI) fund dedicated to electronic manufacturing and hardware. The ALMT team was led by Senior Associate Arita Chatterjee being supervised by Partner Rajat Bopaiah and Senior Partner S Arun. IEDF has been set up with an objective to provide the necessary fillip and growth capital to companies pursuing manufacturing in the electronic and hardware sectors. As its prime goal it seeks to strengthen capital deficiencies in those units who are part of the ‘Make in India’ initiative of the Government of India, according to the […]
Global real estate consultant Coldwell Banker India, master franchise of NYSE-listed Realogy Holdings Corporation, has acquired technology-based property brokerage Favista.com in an all-stock deal. The deal included acquisition of the information technology assets, databases, intellectual property and the employees. Deal Coldwell Realty acquires Favista’s real estate brokerage business Value Undisclosed Sector IT Deal Type M&A Law Firms Indus Law: Coldwell Reality; Favista: In-house team Partners/Heads Indus Law: Nishant Singh Coldwell Realty was advised by Indus Law with a team led by Partner Nishant Singh, Senior Associate Mini Kapoor and Associates Chhavi Jhanji and Priyank Nanavaty. Favista was advised by its in-house team. In […]
Renewable energy firm Inox Renewables Ltd, a part of the Inox Group, is selling its operating wind power farms to Leap Green Energy Pvt. Ltd, a renewable energy firm majority owned by JPMorgan Asset Management. Deal Inox Renewables sells its wind power assets to Leap Green Energy Value Undisclosed Sector Energy Deal Type M&A Law Firms Khaitan – Inox Renewables; MD&T Partners – Leap Green Energy Heads/Partners Khaitan & Co- Bharat Anand, Joyjyoti Misra, Daksha Baxi; MD&T – PM Thimmaiah Gujarat Flourochemicals and Inox Renewables were advised by Khaitan & Co through a team led by Partners Bharat Anand and Joyjyoti Misra, Principal Associate Arjun Rajgopal, Senior Associate Rohit […]
Rentokil Initial plc (Rentokil) has announced that it has entered into an agreement to form a joint venture with India’s PCI Pest Control Pvt. Ltd. (PCI) and to acquire a 57% stake in the new joint venture, for an undisclosed sum. Deal Acquisition of 57% of the shareholding of the PCI by RentoKil Value In excess of $50 million Sector Chemicals and Pesticides – manufacture and services Deal Type M&A Law Firms AZB & Partners – Rentokil; Shardul Amarchand Mangaldas – PCI Heads/Partners AZB – Rishi Gautam; SAM – Jay Gandhi AZB &Partners advised the Rentokil on this transaction through a team led by Partner Rishi Gautam along […]
Vertex SEA Fund I Pte. Ltd has invested $7.5 million in Bangalore-based tech startup Flutura Business Solutions Private Limited. This deal marks the largest series A funding in the Internet of Things sector. Lumis Partners and Hive Technolgies Trust Scheme I also invested in the deal, reports TechCircle. Deal Vertex Ventures invests in Flutura Value $7.5 million Sector IT Deal Type PE Law Firms IndusLaw – Vertex Ventures; JSA – Flutura; Nishith Desai Associates – Hive Partners/Heads IndusLaw – Anupam Prasad; J Sagar Associates – Arjun Perikal; Nishith Desai Associates – Karan Kalra IndusLaw advised Vertex on the deal, through a team led by Partner Anupam Prasad, […]
After the news of the Vodafone-Idea merger talks came out, Bharti Airtel has gone ahead and signed an agreement with Telenor South Asia Investments to acquire Telenor India. All this recent consolidation in the telecom industry is the result of the threat these telecom companies are facing from the aggressive entry of Mukesh Ambani’s Reliance Jio. The cost of Telenor’s acquisition is still under finalisation. However, according to CNBC-TV18, the deal’s value could be pegged roughly at Rs. 6,800-7,000 crore, inclusive of Telenor India’s debt of Rs 1,500 crore. AZB & Partners is the sole counsel for Bharti Airtel and Telenor […]
Swan LNG has successfully executed an EPC Contract with National Marine & Infrastructure India Private Limited for the construction of LNG Port infrastructure facilities situated at Jafrabad, Gujarat. Deal Execution of EPC Contract Value ₹ 2,100 crore (approx) Sector Ports Deal Type EPC Contract Law Firm Lakshmikumaran & Sridharan Heads/ Partners Radhika Sankaran, Rahul Dhawan Lakshmikumaran & Sridharan advised Swan LNG with a team led by Radhika Sankaran, Partner and Rahul Dhawan, Joint Partner.
Havells India is acquiring the white goods and electronics business of Lloyd Electrical and Engineering for Rs. 1,600 crore ($230 million). AZB & Partners is advising Havells India with a team led by Partner Hardeep Sachdeva. PDS Legal is acting for Lloyd Electrical and the team is led by Partner Probal Bhaduri. This is the biggest deal in the consumer durable industry. This deal will mark Havells’ foray into the larger consumer appliances industry with a product portfolio straddling air-conditioners, washing machines, televisions and more, reported VCCircle.