OP Khaitan acts on sale of 100% shares of Anamika Sugar Mills to Shree Renuka Sugars

Shree Renuka Sugars Limited, a public listed company, has entered into binding agreements for acquisition of 100% of the equity shares of Anamika Sugar Mills, a sugar manufacturing company located in Uttar Pradesh, India.

Renuka will subsequently infuse up to ₹110 crore in Anamika by way of subscription to equity shares of Anamika for the purpose of redemption of 100% of the outstanding cumulative redeemable preference shares (CRPS) issued by Anamika in favour of SICPA India Private Limited (“SICPA”).

The transaction involves secondary sales by the existing equity shareholders as well as primary issuance for redemption of preference shareholders, amounting to a total of ₹345 crore.

OP Khaitan & Co advised the non-resident shareholders and SICPA India Private Limited in the transaction involving structuring, drafting and negotiating the transaction documents and general corporate advisory.

The transaction team was led by Gautam Khaitan (Managing Partner) with Manish Jain (Partner). Dr Praveen Alok (Of Counsel) has advised on the real estate aspects. Tarushi Singh (Associate) and Arnav Chaudhary (Associate) have assisted on miscellaneous issues.

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