ICICI Venture is acquiring a 13.8% stake in Go Fashion India Private Ltd. for about Rs 100 crore ($15.67 million), valuing the eight-year-old apparel maker at Rs 725 crore, reported ET. J. Sagar Associates acted for Go Fashion and the team was led by Partner Aarthi Sivanandh along with Principal Associate Bhavana Alexander and Associates Bharath Sridhar and Kayal Manivannan. Themis Associates advised Sequoia Capital. ICICI Securities was represented by its in-house counsel. Private equity fund Sequoia Capital had invested Rs 60 crore for 33.33% stake in November 2014.

ALMT Legal (Mumbai) advised SIDBI Venture Capital Limited in its investment in CorporatEdge Serviced Offices Private Limited, a company engaged in providing serviced office infrastructure as a service. The ALMT team was led by Partners Statira Ranina and Vaishakh Kapadia. CorporatEdge was advised by its in-house team. The company will use the funds to expand in over six cities across the country, reported VCCircle.

Housing Development Finance Corp Ltd (HDFC) is raising around Rs. 11,104 crore from marquee investors like KKR, GIC, Ontario Municipal Employees Retirement System, Carmignac Group and Premji Invest. Wadia Ghandy & Co is acting for HDFC with a team led by Partners Ashish Ahuja and Saurabh Raman. AZB & Partners is advising KKR and the team included Partners Darshika Kothari, Rushabh Maniar, Nilanjana Singh and Anand Shah along . . . 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 […]

IDFC Bank and Capital First have announced merger between the two to form a combined entity with assets under management of Rs. 88,000 crore, branch network of 194 and customer base of over 5 million. As per the agreement, IDFC Bank will issue 139 shares for every 10 shares of Capital First, reported ET. AZB &amp . . . 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 […]

US-based NCR Corporation has sold a portion of the assets of its ATM business in Kerala, Bihar, Jharkhand and Lakshadweep to Mumbai-based payment system company Electronic Payment and Services Pvt. Ltd. AZB & Partners acted for NCR Corporation with a team led by Partner Ashwin Ramanathan along with Senior Associates Puneet Parihar and Pallavi Satpute Trilegal advised Electronic Payment and Services and the team included Partner Yogesh Bhattarai and Associates Sagar Godbole, Harshavardhan Goel and . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to […]

A Morgan Stanley Private Equity Asia-managed fund has invested Rs. 152 crore in Southern Health Foods, the makers of Manna brand of health foods. Cyril Amarchand Mangaldas acted for Morgan Stanley. The CAM team was led by Delhi Partner Nivedita Tiwari along with Partner Anuradha Mukherjee leading the due diligence team. J. Sagar Associates acted for Southern Health Foods and the team was led by Chennai Partner Aarthi Sivanandh along with Principal Associate Bhavana Alexander. Partner . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited […]

Global alternative asset manager The Carlyle Group has acquired a significant majority stake in Visionary RCM Infotech (India) Pvt. Ltd, an offshore risk adjustment and medical coding solution provider. Shardul Amarchand Mangaldas acted as the legal counsel for VRCM, its founder/ promoter, NEA Indo US Ventures and the other Sellers. The transaction team was led by private equity Partner Abhishek Guha along with Principal Associate Ekta Tyagi, and Associates Aditi Tralshawala and Keegan Pavrey.

Engineering services company Axiscades has acquired Bengaluru-based defence electronics firm Mistral Solutions for Rs. 175 crore to enhance its competence in the embedded electronics space, reported ET. Poovayya & Co. acted for AXISCADES and the team was led by partners Siddhartha George and Rohan Kumar, along with Principal Associate Sunita . . . 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 a subscriber ? […]

Private equity giant Warburg Pincus is buying a 20% stake in the direct-to-home (DTH) television arm of Bharti Airtel Ltd, for $350 million (Rs 2,259 crore). AZB & Partners acted for both Warburg Pincus and Bharti Airtel. Partners Anil Kasturi and Nandita Govind, along with Senior Associate Jaishree Tolani Lamba, acted for Warburg Pincus. Partners Gautam Saha and Dushyant Bagga along with . . . 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 […]

Homegrown FMCG major Emami is acquiring 30% stake in Helios Lifestyle, that owns male grooming brand ‘the Man Company’. IndusLaw acted for Helios Lifestyle and the team was led by Partner Avimukt Dar along with Principal associate Divya Varghese, and Associates Shaima Khan and Suvarna Swain. Shardul Amarchand Mangaldas advised Emami with a team led by Partner Sakshi Mehra, Principal Associate Victor Mukherjee and Associate Dipayan Bhattacherjee, Image taken from here.  

Google has picked up a significant minority stake in hyper-local concierge and delivery player Dunzo, its first direct investment in an Indian startup. Google led a $12-million investment in the Bengaluru-based startup which also saw participation of early backers Aspada Investments and Blume Ventures, reported ET. AZB . . . 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 a subscriber ? Login

Mumbai-based developer Indiabulls Real Estate Limited has acquired non-promoter stake worth nearly Rs. 1,500 crore in its Singapore-listed property trust. Indiabulls Real Estate owns 54.95 per cent stake in Indiabulls Properties Investment Trust (IPIT) while the rest is held by Farallon Group (42.67 per cent) and public investors (2.38 per cent). Luthra & Luthra were the Indian counsel for Indiabulls Real Estate and Allen & Gledhill LLP  were the Singapore . . . 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 […]

Home healthcare service provider Portea Medical has raised series C funding of $26 million led by new investors Sabre Partners and MEMG CDC. Portea’s existing investors Accel, International Finance Corporation (IFC), and Qualcomm Ventures also participated in this round. Trilegal advised Sabre Partners and the team was led by Partner Kunal Chandra along with Akshat Shrivastava, Aditi Jain and Tejas Adiga. Cyril Amarchand Mangaldas acted for MEMG CDC and the team was led by  Partner Akshay Bhat along with Suvojit Halder, Jacob George. IndusLaw acted for Accel and the team included Partner Kartik Ganapathy, Principal Associate Anindya Ghosh, Senior Associate Aakash […]

Bangalore-based Chumbak, which sells designer-led consumer products, has raised Rs. 85 crore ($13 million) in a fresh funding round led by mid-market private equity firm Gaja Capital. Existing investors venture capital firms Matrix Partners India and Seedfund also participated in the round, putting in Rs 22 crore and Rs 6 crore, respectively. Gaja Capital invested Rs 52 crore, reported

South Korea’s Lotte Confectionery has acquired Ahmedabad-headquartered ice cream maker Havmor Ice Cream for Rs. 1,020 crore in an all-stock deal. Veritas Legal acted for Havmor Ice Cream with a team led by Partners Abhijit Joshi and Tushar Raut along with Senior Associate Natasha Sethna and Associate Tejasvi Saxena. AZB & Partners advised Lotte Confectionary and the team was led by Partners Alka Nalavadi and Nilanjana Singh along with Senior Associate Qais Jamal and Associate Ramya Mahidhara. This move marks . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year […]

Eric Lifesciences has acquired Strides’ India branded generics business for an aggregate cash consideration of Rs 500 crore. Shardul Amarchand Mangaldas advised Eric Lifesciences and the team was led by Partners Amit Khansaheb and Roshan Thomas, along with Senior Associates Prateek Lala and Hardik Bhatia and Associates Alekhya Donepudi, Christopher Rao and Rimjhim Khandelwal. Tatva Legal acted for Strides Shasun with a team led by NK Dilip.

The government has raised Rs. 14,500 crore through the Bharat 22 exchange traded fund (ETF), comprising 22 stocks, making it one of the largest disinvestment by Government of India. Bharat 22 ETF was launched by ICICI Prudential Asset Management Company Limited (AMC)  under which the Government of India offered stake in central public sector enterprises and certain private sector enterprises in which the Government has holding through SUUTI. SNG & Partners advised the Government of India . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited […]

Financial services firm Avendus Capital has raised $51 million from existing investor Kohlberg Kravis Roberts and Co. (KKR) and new investor Gaja Capital, a mid-market focused PE firm. With this latest round, Avendus Capital has raised nearly Rs. 1,000 crore in the last two years. KKR continues to remain the largest investor and hence the majority shareholder, reported Mint.

Mumbai-based Donear Group has acquired OCM Woolen Mills from its existing owner, a private equity fund house. The acquisition of OCM will enable the Donear Group to expand its range of products to Indian consumers for all weather conditions and for all occasions, reported ET. HSA Advocates advised the promoters of Donear Group and the team was . . . 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 […]

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

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.

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.