Smart Controls India Limited has entered into a joint venture with Zeppelin Systems of Germany where Zeppelin will invest around USD 2.5 Million initially for a 40% stake in the business. Smart Controls India Limited, an innovation driven company gives turnkey solutions for process automation, SCADA and IT integration to almost all industry verticals. A team from Advaita Legal team led by head of Corporate, Satyajit Gupta, advised Smart Controls and the controlling promoters. Zeppelin Systems was advised by BTG Legal with a team led by Vikram Jeet Singh. As a result of the joint venture, customers of Zeppelin will get the benefit of both unmatched German […]

Mswipe, which makes credit card swipe machines, has raised USD 31 million (over Rs 200 crore) from UC-RNT Fund — a joint venture between Ratan Tata’s RNT Associates and the University of California. The existing investors Matrix Partners India, Falcon Edge Capital and DSG Consumer Partners also participated in this round. Clove Legal advised Mswipe and the team included Partner  Amit Sirsikar and Associate  Nupur Rustagi. UC RNT was advised by Indus Law Partners Srinivas Katta and Pallavi Kanakagiri and Associate Tanu Banerjee. Goodwin Procter (Hong Kong) advised Falcon Edge Capital and the team included Yash Rana, Ananth Lakshaman and Abhishek Krishnan. Matrix Partners was advised by […]

Kirloskar Oil Engines Ltd is buying a majority stake in La-Gajjar Machineries, the maker of Varuna and Raindrop brands of electric pumps. Kirloskar will acquire a 76% stake in the company at a valuation of 7.89 times earnings before interest, taxes, depreciation and amortization, reported Mint. DSK Legal advised Kirloskar and the team was led by Partner Ajay Shaw, Manager Gaurav Mistry and Associate Viraj Gami were involved on the transaction. PDS Legal acted for La-Gajjar Machineries and the team included Partner Vihang Virkar, Executive Director Monika Deshmukh, Principal Associate Dheeraj Khanna and Associate Sakshi Kalra.  

The Pune Municipal Corporation (PMC) has raised Rs 200 crore by selling 10-year bonds, becoming the first civic body to tap money from this route in 14 years. The issue, handled by SBI Capital Market, was oversubscribed six times, having received subscriptions worth Rs 1,200 crore. Proceeds from the issue, raised at a coupon of 7.59 per cent, will be used for a Rs 2,300-crore water project, reported

Ahmedabad-based Snacks maker Chhajed Foods has raised Rs 30 crore ($4.67 million) from venture capital firm from GVFL Ltd. Krishnamurthy & Co advised Chhajed Foods team was led by Partner Sankar Narayan Swamy and Associate Partner Aparnaa Bhalotia. Shardul Amarchand Mangaldas advised GVFL with a team led by Partner Pankaj Agarwal. It will use the funds to expand its manufacturing capabilities and distribution reach. The . . . 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 […]

Private Equity giant Warburg Pincus is investing $360 million (Rs. 2,323 crore) for a 43% stake in Tata Technologies Limited. Shardul Amarchand Mangaldas advised Warburg Pincus with a team led by Mumbai Managing Partner Akshay Chudasama. AZB & Partners advised Tata Motors and Tata Capital with a team led by Managing Partner Zia Mody along with Partners Ashwin Ramanathan and Nilanjana Singh.

In a first, National e-Governance Services Ltd. (NeSL), a Union Government company, has received an in-principle approval for establishing Information Utility (IU) in India. NeSL is owned and promoted by leading public institutions like SBI, LIC, Canara Bank, Bank of Baroda, ICICI Bank, CDSL, HDFC, Axis Bank, Union Bank of India, NABARD etc. Under Insolvency and Bankruptcy Code, 2016 (IBC . . . 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 […]

Kolkata-based Wow Momo has raised Rs. 44 crore as Series B funding from Lighthouse Funds and Indian Angel Network. Khaitan & Co advised Wow Momo with a team led by Partner Arindam Sarkar along with Principal Associate Suhana Islam, senior Associate Prithwijit Gangopadhyay and Associate Shourya Sengupta with specialist inputs from Partner Supratim Chakraborty. Due Diligence Aspects: Gaurav Dasgupta (Principal Associate); Gautam Banerjee (Principal Associate); Nikita Bhuwania (Associate) and Aritri Roy Choudhury (Associate)

Dentsu Aegis Network, a global digital marketing communications company, has acquired SVG Media in an all-cash transaction in one of the largest buyout deals in the space in India, reported ET. London-headquartered Dentsu has reportedly paid $110-$125 million (Rs 832-Rs 732 crore) to buy SVG Media. The transaction gives the promoters of . . . 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 a subscriber ? […]

Paint manufacturer Berger Paints has acquired specialty coatings maker Saboo Coatings Pvt. Ltd for a consideration of Rs. 81.77 crore (US$ 12.6 million). Vaish Associates advised Saboo Coatings with a team led by Partner Vinay Vaish along with Associate Partner Manish Tully, Senior Associate Shivang Sargoch and Associate Ridhima Khurana. Berger Paints was represented by their in-house legal and finance teams.

Drug firm Strides Shasun has inked a pact with Vivimed Labs to set up two joint venture firms, reported ET. Universal Legal acted for Strides Shasun with a team led by Chennai Partner – Sameena Chatrapathy along with Associates – Shreya Deora,  Vidhyutha L, Ashtawadh Balan and Sumedha Giridharan. Ex-DSK Legal Partner . . . 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 a subscriber ? Login

Incessant Technologies, an NIIT Technologies is acquiring 55% stake in RuleTek LLC, a BPM architecture services company. J. Sagar Associates advised Incessant Technologies with a team led by Partner Lalit Kumar along with Principal Associate Bharati Joshi, Senior Associate Mohan Kumar and Associate Amandeep Singh Virk. Squire Patton Boggs acted as the foreign counsel for Incessant. RuleTek and its promoters were represented by The Law Offices of David Schwinger PLLC . . . 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 […]

GVK has sold its residual 10% stake in Bangalore International Airport to Fairfax India Holdings for Rs 1,290 crore. The move will help it reduce “debt burden” and focus on Mumbai and Navi Mumbai airports, reported ET. Cyril Amarchand Mangaldas advised GVK Mumbai-based infrastructure . . . 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 a subscriber ? Login

Steadview Cap, Malabar Funds and Ronnie Screwvala have acquired 33 percent stake in Neuland Health Science Pvt Ltd, the holding company of Neuland Laboratories Ltd from InvAscent, a pharma and healthcare-focused private equity firm. ARA Law advised Steadview Cap and Malabar Funds and the team was led by Rajesh Begur and Avik Karmakar. Rajaram Legal acted for Ronnie Screwvala and the team included Partners Archana Rajaram and Priyadarshani Sherchan . . . 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 […]

US-based software firm Ebix Inc. has acquired a majority stake in payments services firm ItzCash for Rs. 800 crore (approximately $124 million) from Essel Group and other shareholders. The transaction also provided an exit to ItzCash’s existing venture capital shareholders Matrix Partners, Intel Capital and Lightspeed Venture Partners. J. Sagar Associates advised Ebix with a team led by Partner Sujoy Bhatia along with Principal Associate Zain Pandit and Associate Adhiraj Gupta.

PepsiCo India and Sachin Tendulkar have entered into a long term arrangement to expand PepsiCo’s health and nutrition space. J. Sagar Associates advised PepsiCo with a team led by Partners – Nitesh Bhasin and Kartik Jain; and Associate – Ayushi Pandey. AZB & Partners advised Sachin Tendulkar on this arrangement and the team was led by Partner Roxanne Anderson. The first product under this arrangement ‘Quaker Oats + Milk . . . 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 […]

Voltas Limited, a Tata Enterprise, and Turkey’s Ardutch B.V. (a subsidiary of Arçelik A.S), have agreed to establish a Joint Venture Company with equity capital of USD 100 million, to enter the consumer durables market in the country. Talwar Thakore & Associates represented Voltas, and the team was led by Partner Feroz Dubash along with Managing Associate Nekzad Dhunjibhoy and Associate Gayatri Chadha. Trilegal advised Arcelik. The Trilegal team was led . . . 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 […]

Logistics startup Delhivery Pvt. Ltd has raised Rs 200 crore ($30 million) from China’s Fosun International as part of a larger funding around, reported VCCircle. Fosun’s investment was part of a round that saw Delhivery raising Rs. 655 crore ($100 million) from private equity firm Carlyle Group and existing investor Tiger Global in February. Khaitan & Co

Canada Pension Plan Investment Board (CPPIB) and Everstone Group’s industrial and logistics real estate development platform, IndoSpace, have formed a joint venture named IndoSpace Core to acquire and develop modern logistics facilities in India, reported Mint. S&R Associates acted for IndoSpace and the team was led by Partners Sandip Bhagat, Rajat Sethi, Sudip Mahapatra . . . 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 a subscriber ? Login

Head InfoTech India Pvt Ltd, an online skill-based gaming platform which operates Ace2Three, has secured approximately $74 million in funding by sale of 87% shareholding to Clairvest Group Inc and a consortium of certain other domestic and foreign investors. Deal Head InfoTech sells 87% shareholding to a group of investors Value $75 million/ ₹500 crore approx Sector Gaming Deal type PE Law Firms Head InfoTech- Luthra & Luthra; Clairvest- Khaitan & Co.; Matrix Partners – Rajaram Legal . . . To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous interviews, […]

South Korea’s Kia Motors Corporation recently signed a memorandum of understating (MoU) with the Government of Andhra Pradesh, for setting up a greenfield automobile manufacturing facility in the state of Andhra Pradesh. The total project investment in a phased manner is $2 Billion. The gestation period for the transaction was over 12 months, commencing May 2016 and ending with Kia Motors and Government of Andhra Pradesh executing the MoU on 29th April 2017. Deal Kia Motors signs MoU with Andhra Pradesh to construct . . . To read the entire article, get a premium account With a premium account you get: One […]

Myra, a start-up focussed on implementing technology driven access to medicines, has raised a Series A Round co-led by Matrix Partners India and Times Internet. Deal Myra raises Series A funding Value  undisclosed Deal Type PE Sector Medtech Law Firms Myra & Matrix- Rajaram Legal; Times Internet- BMR Legal Partners/Heads Rajaram Legal- Archana Rajaram, Priyadarshani Sherchan; BMR Legal- Siddharth Nair Myra was . . . 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 […]

Zee Entertainment Enterprises Ltd (Zee) has acquired 80% stake in tech startup Margo Networks Pvt. Ltd  (Margo) for ₹75 crore. Deal Zee acquires 80% stake in Margo Value ₹75 crore Deal type M&A Sector Media & Entertainment Law Firms Zee – Indus Law; Margo – Shah & Sanghvi Advocates & Solicitors Partners/ Heads IndusLaw – Anupam Prasad; Shah & Sanghvi – Paresh J. Shah Zee . . . 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 […]

True North has acquired a controlling stake in Home First Finance Company Private Limited (HFFC), a housing finance company engaged in providing affordable housing loans to low and middle income groups for about $100 million (Rs. 667 crore). The transaction is a combination of a fresh issue and a secondary sale. Out of the $100 million, True North will invest about half in the company and the rest will be paid to existing shareholders, reported

Spandana Sphoorty Financial Ltd has raised over $100 million (about Rs 650 crore) in equity capital from a consortium of investors led by Kedaara Capital and including Canadian pension fund Ontario Teachers’ Pension Plan, according to a press statement. It also raised $170 million (about Rs 1,100 crore) in debt capital from IndusInd Bank, Yes Bank and ICICI Bank. In the process, the company managed to repay all its outstanding dues and exited the corporate debt restructuring (CDR) process, reported

Home services marketplace UrbanClap has raised ₹20 crore in debt funding from venture debt firm Trifecta Capital through non-convertible debentures. The startup also allotted equity through some compulsory convertible preference shares to Trifecta for ₹2 crore. Deal UrbanClap raises debt funding Value ₹20 crore + ₹2 crore Deal Type (Venture) debt/ equity Sector E-commerce Law Firms UrbanClap – Sahai & Co.; Trifecta Capital – Nishith Desai and Associates Partners/Heads  Sahai . . . 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 […]

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 . . . To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous […]

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 

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

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 . . . To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous […]