The rest of the week's deals in one packageThe rest of the week's deals in one package

Deals round-up of more than a dozen recent instructions.

Private Equity

Mahendran, IVF pest investment under Bharucha, DSK

Mahendran Holdings unit Goodlife bought back India’s second-largest pest controller ISS Hicare with help from India Value Fund IV (IVF) [Money Life]

IVF and Mr Mahendran: DSK Legal Mumbai partner Narendra Dingankar, senior manager Rishabh G Mastaram, senior associates Anupam Shukla, Kartikeya Prakash and Mayank Mehta, and associate Arpita Anand

ISS Hicare: Bharucha & Partners partner Alka Bharucha, senior associate Siddharth Manchanda, and associates Harshil Dalal and Mazahir Bootwala

OrbiMed buys into Faridabad AIMS through Alpha Partners, Indus

Healthcare-focused private equity fund OrbiMed invested in Faridabad-based hospital Asian Institute of Medical Sciences (AIMS), a part of Blue Sapphire Healthcare [VC Circle]

Blue Sapphire: Alpha Partners partner Akshat Pande and associates Swati Kaul and Anjali Yadav

Orbimed: Indus Law

Japan ARKRAY Gujarat in-vitro investment with Wadia G, Vaish

Japanese medical technology major ARKRAY Group is buying the In-Vitro Diagnostic (IVD) business of Gujarat-based Span Diagnostics for Rs 80 crore in a slump sale [VC Circle]

Span: Wadia Ghandy former partner Anand Shah and current partner Xerxes Antia with senior associate Nikhil Pai, former associate Ishan Handa and current associate Tulsi Mehta

ARKRAY: Vaish Associates partner Hitender Mehta, principal associate Akshay Saxena and senior associates Pratyush Khurana and Pavit Singh Katoch

GVK buys US clinical research co via Desai Diwanji, Foley Lardner

Small-molecule Contract Research Organisation (CRO) GVK Biosciences will acquire US-based pre-clinical CRO Aragen Biosciences [ET]

GVK: Desai & Diwanji partner Raghav Mathur and associate Nakul Batra

Aragen: Foley & Lardner partner Carrie Long

Oman fun buys Rs 50 crores of National Commodity & Derivates Shares guided by ELP

Oman India Joint Investment Fund purchased equity shares of National Commodity & Derivatives Exchange from Jaypee Capital Services for Rs 49.5 crore [VC Circle]

Oman India: Economic Laws Practice partner Darshan Upadhyay and senior associate Bhavin Gada

NCDEX: No external advisors

Valley mobile payments co Boku buys Spunk Media: Majmudar & Trilegal advise

San Francisco-based mobile payments company Boku will buy Mumbai-based Spunk Media which owns and operates the mobile billing aggregator business of Qubecell [Reuters]

Boku: Majmudar & Partners managing partner Akil Hirani and associate partner Christopher Krishnamoorthy

Spunk Media: Trilegal partner Amit Tambe

Capital Markets

Luthra wins Rs 4,600 crore public debenture offer for HUDCO

HUDCO made two tranches of public offerings of tax-free, secured, non-convertible debentures worth Rs 4,600 crore. Axis Capital, Edelweiss Financial Services, HDFC Bank, Karvy Investor Services and RR Investors Capital Services were the lead managers to the issue [Money Control]

HUDCO and lead managers: Luthra & Luthra partner Manan Lahoty and associates Abhiroop Lahiri and Theresa Thomas

Khaitan Sudhir Bassi scores Cairn $930m buy-back for Morgan Stanley

Cairn India bought back up to 14.98% of its equity share capital for $930m from open market through stock exchanges. Morgan Stanley was lead manager. This is the biggest buyback offer ever made by an Indian company.

Morgan Stanley: Khaitan & Co executive director Sudhir Bassi and partner Arindam Ghosh

Cairn India: Probably no external legal advisors, according to two independent sources Correction: Amarchand Mangaldas Delhi partners Prashant Gupta and Gunjan Shah, with associate Shruti Kanodia. Standard Chartered, one of the managers, was advised by Luthra & Luthra Mumbai capital markets partner Manan Lahoty and managing associate Vishal Yaduvanshi.

Jagran Prakashan Rs 47.5 crore buy-back instructs Luthra

Jagran Prakashan bought back Rs 47.5 crore worth of its equity shares on the Bombay Stock Exchange. ICICI Securities was lead manager to the issue

Jagran and ICICI Securities: Luthra & Luthra partner Manan Lahoty, managing associate Vishal Yaduvanshi and associates Koushik K Prasad, Aashima Johur and Rohan Sahai

Shriram City Rs 1.5bn public debenture offers drafts Luthra

Shriram City Union Finance made a public offering of non-convertible debentures worth Rs 1,500 million. ICICI Securities was the lead manager to the issue

Shriram and ICICI: Luthra & Luthra partner Manan Lahoty, managing associate Geeta Dhania, senior associate Manshoor Nazki and associates Abhiroop Lahiri and Aditi Venkatasubramanian

Dhanlaxmi raises $10.8m QIPs, instructs Luthra

Dhanlaxmi Bank raised $10.8m through Qualified Institutional Placement, allotting 17.5 million equity shares listed on BSE and the National Stock Exchange [VC Circle]

Dhanlaxmi: Luthra & Luthra partner Manan Lahoty, senior associate Ravi Dubey and associates Aditi Venkatasubramanian and Faiza Rahman

Khaitan nabs India Infoline $80.3m IPO

India Infoline’s made an Initial Public Offer of $80.83m of Secured Redeemable Non-Convertible Debentures

IIFC: Khaitan & Co executive director Sudhir Bassi and partner Vibhava Sawant

Project finance / infrastructure

 

Khaitan Sud assists L&T on Rs 100 crore loan extension for Lalitpur power plant

L&T Infra Finance agreed to extend a Rs 100 crore term loan to BEPL for downstream capital expenditure and for sponsoring the Lalitpur Power Generation Company

L&T: Khaitan Sud & Partners principal associate Sujeet Das and associates Henna Vadhera and Sudhanshu Goil

BEPL: in-house finance and secretarial teams

Uniquest buys road building SPV with Luthra, Link

Uniquest Infra Ventures bought a majority stake in a road Special Purpose Vehicle of SEW infrastructure and Navayuga [BS]

Uniquest: Luthra & Luthra partner Deepak Joyce, managing associate Manish Gupta and associate Adhiti Gupta

Navayuga: Link Legal partner Anand Srivastava

Clasis gets active in Philippines airport project with local firm

The PPP Centre of Philippines is constructing a new world-class international passenger terminal at Mactan Cebu International Airport in the Philippines

PPP centre of Philippines: Clasis Law partner Ishtiaq Ali and senior associate Sharad Joshi and Manila law firm PJS Law 

Banking

Majmudar, TLT extend United Phosphorus overdrafts

Bank of Baroda’s London branch rescheduled working capital facilities extended to United Phosphorus Limited (UK) and the Italian, French and Dutch entities of Cerexagri, against corporate guarantees provided by Indian parent company UPL Limited.

Bank of Baroda: Majmudar & Partners partner Prashanth Sabeshan and London-based TLT Solicitors partner Richard McBride and Claire Gibson on English law

Regulatory

JSA wins before NGT

The National Green Tribunal on 28 November dismissed the challenge to Lenzing Modi Fibers India’s environment clearance and consent to establish granted for its viscose fibre manufacturing plant, on the ground that mere construction of a compound wall with a requisite NOC for levelling is a permissible activity as it is to secure the land from transgression or damage [Order]

Lenzing: J Sagar Associates partners Amar Gupta, Apoorva Misra & Mayank Mishra, and Associates Vandana Anand and Ritika Arora.

If you would like your deals included in future deals round-ups, please send us an email at with details of the transaction and lead partners.

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Like +0 Object -0 Anonymous 03 Feb 14, 17:36
Cairn is known to seek counsel from S&R Associates. Don't know if that firm also services the Indian entity, which I believe is now a Vedanta-company..
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Like +0 Object -0 kianganz 03 Feb 14, 17:39
We reliably understand that S&R didn't act for Cairn on this one...
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Like +0 Object -0 Abc 03 Feb 14, 18:15
No transanction from amss and azb
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Like +0 Object -0 Zeus 03 Feb 14, 23:24
It's always pouring deals with the big boys, hang tight and get your raincoat out brother :-)
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Like +1 Object -1 Curious 03 Feb 14, 19:05
Going great Khaitan - Biggest buy-back ever ??
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Like +3 Object -0 Vital Information! 03 Feb 14, 19:23
To add - from Vaish Associates Advocates (for Arksay - Span Diagnostics)- there was also principal associate Akshay Saxena and senior associate Pratyush Khurana.
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Like +1 Object -0 kianganz 03 Feb 14, 20:23
FYI, as promised earlier, here's an insidery view on legal league tables and why some deals and firms get reported, and others don't:

http://www.legallyindia.com/201402034307/Legal-opinions/law-firm-league-tables-explained
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Like +16 Object -0 Luthra 03 Feb 14, 23:58  interesting  top rated
Luthra seems to have done a large number of big deals. Good going Manan and team,
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