Sumant Sinha-led ReNew Power is making a Rs 1,000-crore acquisition of wind power assets of the KC Thapar Group, helping India’s biggest renewable energy player strengthen its position in the rapidly consolidating sector. ReNew Power will acquire three fully operational plants with a total capacity of 103 megawatts in Andhra Pradesh in one of the biggest deals in renewable energy sector this year, reported ET. HSA Advocates acted for KC Thapar Group with a team led by Managing Partner Amitabh Sharma along with Partner Harvinder Singh and Principal Associate Devika Chadha. The regulatory advise aspects of the transaction was led by Partner […]

Majmudar & Partners represented Halyard Health, global provider of medical supplies and solutions, on the sale of its Indian subsidiary’s Surgical & Infection Prevention business to the Indian subsidiary of Owens & Minor, a healthcare logistics company. This transaction is a part of Halyard Health’s global sale of its Surgical & Infection Prevention business to Owens & Minor, valued at $710 million. The Majmudar team was led by Managing Partner Akil Hirani. Alston & Bird LLP represented Halyard Health, Inc. as its US counsel and the team was led by Partner Sarah Ernst. Khaitan & Co acted for Owens & Minor […]

Vodafone India and Idea Cellular are selling their standalone telecom tower businesses to ATC Telecom Infrastructure Pvt. Ltd for about $1.2 billion (Rs. 7,850 crore). S&R Associates acted for their long standing client Vodafone India and the team was led by Partners Rajat Sethi and Radhika Iyer along with Jagriti Mohata, Dhruv Nath, Raya Hazarika, Meher Mehta and Sushmita Sur. Slaughter and May acted as international counsel for Vodafone . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous interviews, columns and articles One year access to […]

Axis Bank is raising up to Rs. 11,826 crore ($1.8 billion) through a private placement of shares from a clutch of investors led by private equity fund Bain Capital. Bain Capital is picking up a 4% stake for Rs. 5,179 crore and will have the right to nominate a director on bank’s board. Other investors are American asset manager Capital Group and Life Insurance Corporation of India (LIC). The fund-raising will see the bank dilute a stake of around 9%, reported

Majmudar & Partners represented Pelliconi & C. S.p.A., one of the world’s leading manufacturers of crown corks, metal and plastic caps for the bottling industry, on its proposed acquisition of 51% in Oricon Packaging Limited, a wholly owned subsidiary of Oricon Enterprises. The proposed acquisition is at an enterprise value of Rs. 419 crores ($64.5 million approximately). The Majmudar team was led by Managing Partner Akil Hirani along with Associate Partner Amrit Mehta . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous […]

Tata Chemicals Ltd is selling its non-bulk phosphatic business to Indorama Holdings BV for Rs. 375 crore. The transaction will involve sale of the fertilizer business, the assets attached to it as well as the company’s Haldia plant, reported Mint. AZB & Partners advised Tata Chemicals and the team was led by Partners . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous interviews, columns and articles One year access to all archival material Access to all Bar & Bench reports Register Already […]

On-demand logistics company Shadowfax is acquring the business assets of NuvoEx, an ecommerce-focused logistics business, for an undisclosed amount. Avigna Law acted for Shadowfax and the team was led by Partner Chitra Raghavan along with Associate Shriya Kuruparan. Samvad Partners advised Nuvo Logistics with a team led by Partner Nivedita Nivargi and Associate Neeraj Vyas. The transaction size was not disclosed, but according to sources, it is a cash transaction and for a fraction of what the company was worth at its peak in 2015, reported ET. The deal will help the merged business expand its services to over 75 […]

DMD Advocates advised Infradigital Technologies, a company promoted by Eros Labs, in selling its business of production and distribution of spiritual, devotional and religious audio-visual content and literature to Innertech Media Solutions Private Limited. Innertech is a portfolio company of Times Internet Limited. The DMD team was led by Senior Partner Rashi Dhir along with Principal Associate Shivendra Singh and Associate Sukhmani Singh. Innertech and Times Internet were represented by Shardul . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous interviews, columns and articles One […]

Online lending platform Ziploan has raised Rs. 20 crore in an equity fundraise, led by Matrix Partners. Its existing investors Waterbridge Ventures and Whiteboard Capital also participated in the round, reported ET. Rajaram Legal acted for Matrix Partners and the team was led by by Partner Priyadarshini Sherchan and Senior Associate Prasad Subramanyan. Khaitan & Co advised Ziploan and the team included Associate Partner Mayank Singh and Associate Anugya Sahai.

Micro, small and medium enterprise-focussed non-banking financial company Kinara Capital has raised Rs 96 crore ($14.7 million) in a fresh round led by mid-market private equity firm Gaja Capital. New investor, Spanish impact investment firm Gawa Capital, and existing investors, Michael and Susan Dell Foundation, and Unitus Impact Fund, too, participated in the round, reported VCCircle.

Online insurance selling platform Policybazaar, which is operated by ETechAces Marketing and Consulting Pvt. Ltd, has raised Rs. 500 crore ($ 77 million) in a Series E funding round. Three new investors, including True North, IDG Venture Partners and Boston-based assets management firm Wellington Management Group, had participated in the round. Existing investors Temasek, Tiger Global Management and Premji Invest, besides other undisclosed investors, also participated in the round, reported

The Sazerac Company (Sazerac), the largest family-owned spirits company in the United States has acquired an equity stake in John Distilleries Private Limited, a leading Indian spirits company, from Gaja Capital. DSK Legal acted for Gaja Capital with a team led by Partner Satish Kishanchandani, along with Pritha Jha, Deepti Sarma and Pracheta Redhu Cooley LLP and Nishith Desai Associates acted for Sazerac. The Cooley team included Partner Jason L. Kent . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous interviews, columns and articles […]

French waste and water group Suez has boosted its industrial water treatment business with the acquisition of the industrial water business of GE and consolidated it with SUEZ group’s existing industrial water business in one vertical. IndusLaw acted as Indian legal counsel for Suez and the team was led by Partner Saurav Kumar along with Principal Associate Jinni Sinha, Senior Associate Harman Walia and Associate Chitvan Bakshi. SUEZ India in-house legal . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous interviews, columns and articles […]

Kishore Biyani’s Future Retail is set to acquire HyperCity, a premium chain of 19 hypermarkets from Shoppers Stop for Rs. 655 crore ($99.4 Million) through a combination of cash and shares. AZB & Partners advised Future Retail with a team led by Senior Partner Ashwath Rau along with Counsel Prerak Ved and Associates Nirmal Mahtani and Karishma Muravne Wadia Ghandy & Co acted for HyperCity Retail and the team was led by Partner . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous interviews, columns […]

Amicus Capital has struck its maiden deal, having invested Rs. 60 crore in online insurance aggregator RenewBuy. PDS Legal advised RenewBuy and the team was led by Partner Probal Bhaduri along with Associate, Shilpa Margaret Ekka. J. Sagar Associates acted for Amicus Capital and the team included Partners Vikram Raghani and  Anand Lakra along with Associates Avinash Jethwani, Roshni Rathi, Guneet Singh Chadha and Nidhi Juthani.

Real estate developer Mahindra Lifespace Developers Ltd Monday has entered into a strategic partnership with International Finance Corporation (IFC), a member of the World Bank Group, in which the latter would invest $50 million to develop industrial parks across Gujarat, Rajasthan and Maharashtra, reported Mint. Jerome Merchant + Partners acted for Mahindra Lifespace Developers and the team was led by Partners Vishnu Jerome

Engineering major Larsen and Toubro Ltd (L&T) is selling its unlisted subsidiary EWAC Alloys Ltd as part of its strategy to exit non-core businesses. Larsen and Toubro has entered into a definitive agreement with ESAB Holdings Ltd, a company registered in the UK, to sell EWAC Alloys for Rs522 crore, reported Mint. Link . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous interviews, columns and articles One year access to all archival material Access to all Bar & Bench reports Register Already […]

Xander Group has sold its roughly 49% stake in Pune’s International Convention Centre (ICC), a mixed-use project of Panchshil Realty, to private equity giant Blackstone Group. Xander Group had picked up the stake through one of its PE funds in 2010 for roughly Rs 500 crore. Blackstone has now paid somewhere between Rs 1,100 and Rs 1,200 crore for the asset, reported VCCircle . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous interviews, columns and articles One year access to all archival […]

Hindustan Unilever Limited has (HUL) is divesting its entire stake in Kimberly-Clark Lever as part of a strategy to exit non-core businesses. HUL has entered into a share purchase agreement with Kimberly-Clark Corporation, U.S.A. (KCC) for divestment of HUL’s 50% shareholding in Kimberly-Clark Lever Private Limited in favour of KCC. Vaish Associates advised HUL. The lead partner on the deal was Associate Partner Krishna Kishore. Partners Bomi Daruwala

Subhash Chandra-promoted Zee Entertainment Enterprises (ZEE) is acquiring 9X Media from private equity firm Rivendell PE LLC, earlier known as New Silk Route, and other shareholders for a total cash consideration of Rs. 160 crore. Shardul Amarchand Mangaldas & Co advised Zee with a team led by Partner Jay Gandhi along with Principal Associate  Arun Jerome and Associate Natalee Nanda. Economic Law Practice acted for 9X Media and Rivendell PE LLC and the team . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous […]

Singapore-based Mandala Capital has acquired around 15% stake in Keventer Agro for approximately Rs. 170 Crore. The investment will be utilized for expansion of its dairy business, operating through its wholly owned subsidiary, Metro Dairy Limited. DSK Legal advised Mandala Capital Limited. The team included Associate Partner – Hemang Parekh, Senior Associates – Rukmini Bose and Ishita Luthra. Fox & Mandal, Kolkata led by Partner Debanjan Mandal along with

Dow Chemical and DuPont have recently completed their planned $130 billion merger to form Dow DuPont after the Competition Commission of India (CCI) cleared the said transaction, with certain modifications. Dua Associates acted as the Indian antitrust counsel for Dow Chemicals and the team was led by Partners Shiraz Patodia, Shashivansh Bahadur, Neeraj Kumar and Kunal Mehra.

Hyderabad-based renewable energy producer Mytrah Energy has raised Rs. 2,100 crore from Piramal Group’s financial services companies. These funds are being invested in the form of non-convertible debentures (NCDs) into two Mytrah group entities —  Mytrah Energy (India) (Rs. 1,050 crore) and Mytrah Ujjwal Power (Rs. 900 crore). Trilegal advised Mytrah Energy. The Trilegal team was led by Partner Charandeep Kaur along with Counsel Ramakant Rai, Senior Associate Naved Ali Alvi and Associate . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous […]

Budget hotel chain Treebo Hotels has raised $34 million (Rs. 220 crore) in its Series C funding round led by Hong Kong-based investment firms Ward Ferry Management and Karst Peak Capital. Existing investors SAIF Partners, Matrix Partners India, and Bertelsmann India Investments also participated in the round, reported VCCircle. Rajaram Legal acted for Treebo Hotels. The team was led by Partner . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous interviews, columns and articles One year access to all archival material Access […]

Just Buy Live, an online distribution platform connecting brands with retailers and small and medium enterprises, has raised a Series-B round of $100 million from Ali Cloud Investments, a Dubai-based boutique investment firm. Khaitan & Co advised Just Buy Live and the team was led by Partner Bhavik Narsana along with Senior Associates Vidur Sinha and Niharika Mepani. Associate Director Vinita Krishnan along with Senior Associate Raghav Bajaj and Associate Sneh Shah advised on taxation . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access […]

Network International has sold its 100% stake in TOM Technologies Private Limited, a company housing the remittance technology business (popularly known as ‘Remit2india’) of TimesofMoney (a business engaged in cross border remittances, specializing in non-resident Indian remittances to India) to UAE Exchange. Nishith Desai Associates acted for Network International and team included Huzefa Tavawalla, Ashish Alexander and Nishchal Joshipura. Talwar Thakore & Associates advised UAE Exchange and the team was led by Partner Kunal Thakore along . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access […]

Branded budget hotels marketplace OYO Rooms has closed a $250 million (about Rs 1,600 crore) round of funding, which was led by its existing investor SoftBank along with with new investor Hero Enterprise. IndusLaw acted for OYO Rooms and the founder and the team was led by Partner Avimukt Dar along with Senior Associate Nitin Gera, and Associates Nikita Goyal and Aayush Sood. Partner Avik Biswas advised on Employment law while Partner Saurav Kumar advised on Regulatory Law. Morrison & Foerster LLP (Hong Kong) acted as international counsel for SoftBank with a team led by Partner Amit Kataria. Cyril Amarchand Mangaldas […]