Private equity / VC

AZB & Simpsons reprised roles for KKR, with Amarchand and Davis Polk acting for the sellers.

Obhan & Associates, which is run by Anand & Anand and AZB alumni, bags deal opposite ALMT.

BMR’s latest recruit, Amit Khansaheb, seals second deal at consultancy’s legal arm.

Vaish Associates and Crawford Bayley advised Delhi-based liquor firm Globus Spirits in raising Rs 70 crore ($13m) from Templeton Strategic Emerging Markets Fund IV LDC (TSEM) which was advised by BMR Legal's new hire from Desai & Diwanji.

Rajani Associates advised brokerage house Motilal Oswal Private Equity (MOPE) which invested Rs 35 crore ($6.4m) in concrete blocks maker Magicrete Building Solutions, which was advised by Luthra & Luthra.

Rajani Associates founding partner Prem Rajani with partner Poorvi Sanjanwala, senior associate Karishma Jumani and associate Nishtha Mehta acted for MOPE which invested the amount through its funds India Business Excellence Fund IIA and India Business Excellence Fund II, according to a Rajani press release.

Luthra & Luthra Mumbai partner Bikash Jhawar with managing associate Amit Shetye and senior associate Rohan Shah acted for Magicrete, which was incorporated in 2008.

Magicrete is India’s largest maker of autoclaved aerated blocks, which are replacing red bricks in construction across India, according to the Economic Times and Deal Curry.

Tatva Legal advised micro-financier Grameen Financial Services (GFSPL), which received Rs 37.5 crore ($6.8m) of funding from US-based Creation Investments that was advised by J Sagar Associates (JSA).

Tatva Legal Bangalore senior associate Bhargava KS and manager Raghunath Ananthapur with assistance from partner Manav Nagaraj acted for Bangalore-headquartered GFSPL.

J Sagar Associates Delhi partner Lalit Kumar with associates Zain Pandit, John MA and Bharati Joshi acted for the social venture fund Creation Investments Capital Management.

Existing investors Microventures and Incofin also invested in this third round, according to the company's press release, raising a total of Rs 53.2 crore ($9.6m).

Majmudar & Partners and US law firm Kim Law Advisors advised San Francisco’s Burill & Company in its Rs 54 crore ($10m) primary and secondary investment in the Trilegal-advised Bangalore-based Strand Life Sciences, including buying out its lead investors WestBridge Capital and Ascent Capital. WestBridge was advised by AZB & Partners.

Majmudar Bangalore partner N Raja Sujith acted for Burill which is a diversified global financial services firm focussed on the life sciences sector.

Trilegal Bangalore partner Kosturi Ghosh acted for Strand in what Biospectrum Asia reported was a series B financing by Burill.

AZB & Partners Bangalore partner Srinath Dasari acted for WestBridge – a series A lead investor in Strand, which according to Startup Central had picked up a 20 per cent stake in the company for a reported $1.9m in 2002.

Exclusive: Lexygen advised India-focused private equity (PE) fund Zephyr Peacock India and Singapore-based PE fund Credence Partners in their Rs 90 crore ($17m) joint investment in Singapore-based logistics company 20Cube. 20Cube was advised by Singapore law firm Alliance LLC. 

Lexygen partner Prashant Kataria with associates Amit Vyas, Vishnu Chandran and Aayushi Sharma acted for Zephyr and Credence on Indian law, as well as on leading the global due diligence assisted by Singapore law firm LawAsia senior associate Vincent Bu and Australian law firm Holding Redlich partner Darren Pereira.

The documentation was headed by Singapore law firm Kelvin Chia Partnership partner Andrew Lai.

Alliance LLC director Stanley Gan acted for the Chennai-headquartered international transportation and contract logistics provider 20Cube which has a presence in India, Sri Lanka, Bangladesh, Malaysia, Singapore, China, Australia, UAE and Uganda.

Zephyr and Credence will pick up a minority stake in 20Cube, and Mint reported that this 12th investment by Zephyr into India, was its first ever in the logistics sector.

This deal marks this year’s second investment in a logistics company, according to the Economic Times, which yesterday reported that India’s logistics market is estimated at over $100bn with a growth rate of 20 per cent. According to ET, General Atlantic’s $104m investment in Fourcee Infrastructure in January 2012, was one of the largest PE investment in two years.

Luthra & Luthra advised India’s largest pre-schools’ operator Tree House Education and Accessories in preferentially allotting its equity shares for Rs 81.25 crore ($15m) to Aditya Birla Private Equity – Sunrise Fund (ABPESF) and Omidyar Network (ON) Mauritius and warrants to promoters, which were advised in-house.

Phoenix Legal advised old-client real estate company Ramprastha group in Cyprus-incorporated investor Clearwater Capital Partners’ (CCP) Rs 100 crore ($18m) investment into it. CCP was advised by J Sagar Associates (JSA).

DSK Legal advised India Value Fund Advisors’ (IVFA) trustee IVF Trustee Company in its Rs 1000 crore ($181m) investment in Bangalore-based Manipal Health Enterprises which was advised by Tatva Legal.

Dua & Associates advised domestic private equity (PE) fund Aditya Birla Sunrise in its Rs 53.5 crore ($10m) investment in fine dining restaurant chain Olive Bar & Kitchen which was advised by Naik & Naik.

Exclusive: Desai & Diwanji advised India’s largest entertainment ticketing website BookMyShow in the Rs 100 crore ($18m) capital and equity infusion to be made in it by global internet-business venture capitalist (VC) Accel Partners, advised by IndusLaw.

Amarchand Mangaldas Mumbai and Delhi advised Bain Capital with US firm Ropes & Gray in the $1bn purchase of 30 per cent of shares in global outsourcer Genpact, which was advised by Cravath Swaine & Moore. Two selling private equity funds were assisted by Nishith Desai Associates and Paul Weiss.

Exclusive: PXV Law Partners advised its long standing client, prepaid payments program manager TranServ, in its sale of equity to venture capital (VC) fund Nirvana Venture Advisors, which was advised by Nishith Desai Associates.

Exclusive: J Sagar Associates (JSA), Nishith Desai Associates (NDA), Fox Mandal, international law firms Linklaters and two European firms, advised a consortium of investors led by Dutch pension services provider APG, in their Rs 770 crore ($141m) co-investment in Godrej’s Indian residential projects.