Khaitan & Co Delhi partner Bharat Anand led the team that consisted of senior associate Vikrant Rohilla and associate Gaurav Shanker on this transaction.
Anand told Legally India: The most peculiar aspect of the deal was that it had to structured taking into account the FDI regulation following 1 April 2010 consolidated FDI policy. Therefore, the traditional convert structure had to be modified appropriately and negotiated with the other side."
Anand said that Vacmet India was rendered preliminary advice by law firm Suri & Co and also relied on its in-house legal department.
The current investment will be done through India Agri Business Fund Limited, which is fund established in Mauritius and focuses on the agricultural sector and related business activities in India.
Khaitan & Co wraps up Rabo 50 crore PE stake under new FDI rules
Khaitan & Co has advised Rabobank's private equity unit Rabo Equity Advisors in its investment of Rs 50 crores in Agra-based integrated packaging company called Vacmet India Limited for a 23.92 per cent post-issue equity stake.
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