Desai & Diwanji advised ICICI Securities and a number of acquirers in the open offer of Delhi-based non-banking financial institution Intec Capital. India Business Excellence Fund, which is taking a preferential allotment of Intec shares, was represented by Amarchand Mangaldas on the initial stages of the deal, with its in-house team leading on the takeover.
Desai & Diwanji partner Srishti Ojha led the team, assisted by senior associate Ajai Achuthan and associates Ankesh Jain, Ishita Kashyap and Shubhojeet Kundu.
The open offer with a value of around Rs 52 crore ($8.4m) was announced on the Bombay Stock Exchange (BSE) on 14 August, for 26 per cent of the voting share capital - 4,775,225 fully paid-up equity shares of Rs 10 each – from Intec’s public shareholders.
The shares are set to be acquired by Intec Worldwide Private Limited, Pantec Devices Private Limited, Pantec Consultants Private Limited, India Business Excellence Fund-II and India Business Excellence Fund II-A, according to the BSE filing.
The deal included drafting and due diligence under SEBI’s Substantial Acquisition of Shares and Takeover Regulations 2011, with multiple points of trigger and the preferential allotment to India Business Excellence Fund-II. Intec provides loans to small and medium enterprises since 1994.
Comments
Those who work for AMSS surrender any right to individual credit. You work for the name, after all; the name does not work for you.
Unless, of course you "mislead" the CII by going rogue, magically escaping the control of partners who otherwise ride you like a wet donkey. Then someone higher up will spell your name correctly for the press.
Ha ha ha - good one!
A leading firm which expects to reach greater heights does itself a disfavour and takes a public beating when it blames any lawyer, especially young associates with less than 2 years' experience, for errors. Not to mention that it displays a sick mindset and is highly unprofessional.
What does Sumes Dewan have to do with this deal????? Why are such ridiculous comments even being allowed??
more importantly-why have some here "objected" to simple comments from readers who just congratulating the youngest members of the deal team? [see comments 5,6,8]. sad to notice such negativity.