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7 deals in brief: AZB, JSA on Rs 650 cr Netmagic sale to NTT & more rounded up

Best of the rest of deals going on in IndiaBest of the rest of deals going on in India

Deals with Dua Associates, AZB & Partners, Khaitan & Co, Vichar Partners, Majmudar & Co, J Sagar Associates (JSA) and more…

Private equity

Majmudar & Co partner N Raja Sujith advised global healthcare information services provider IMS Health on M&A issues in its Rs 50 crore acquisition of Baring Private Equity-backed KPO PharmARC. The Bangalore-based KPO was advised  on the sale by PRA Law OfficesDelhi partner P Srinivasan.

Khaitan & Co senior associate Anuj Sah advised Tata Capital in its second Rs 37 crores ($7m) round of financing in Chennai-based rural-ATM manufacturer Vortex Engineering, which was advised by start-up law firm Vichar Partners, also based in Chennai.

M&A

AZB & Partners partner Gautam Saha along with senior associate Amrita Patnaik advised India’s largest pure-play managed IT-hosting company Netmagic and its promoters on all corporate, M&A and regulatory issues concerning the sale of over Rs 650 crore worth of equity shares, making up 74 per cent of total equity, to Japanese company NTT which was advised by J Sagar Associates (JSA) Mumbai partner Verghese Thomas.

Joint ventures

J Sagar Associates (JSA) partner Upendra Nath Sharma, senior associate Pallavi Puri, and associates Purab Saagar Saini, Kaustubh George and Udhav Gulati advised Fiat's auto parts division Magneti Marelli's wholly-owned subsidiary Sitemi Sospensioni in its 50:50 joint venture (JV) with Faridabad-based automotive component manufacturer Talbros Automotive Components, which was advised by OP Khaitan & Co managing partner Gautam Khaitan, partner Suparna Sachar and senior associate Nidhi Mathur. The JV is slated to be operational by mid 2012.

Finance

Khaitan & Co partner Shishir Mehta advised ICICI Bank on the restructuring of Rs 160 crore (25m Euro) of advances made to an overseas subsidiary of the Indian-Japanese joint venture manufacturing company Sona Okegawa Precision Forgings Limited in October 2011.

Debt capital markets

AZB & Partners partner Srinath Dasari with associate Ananthram Ganesh advised NBFC Muthoot Finance, in its raising of over Rs 450 crores ($93.3m) through the public issue of secured non-convertible debentures with a face value Rs 1,000 each, admitted on the exchange from 23 January onward. Lead managers ICICI Securities, AK Capital Services, HDFC and Karvy Investor Services, and co-lead managers RR Investors Capital Services and SMC Capitals were also advised by AZB as sole adviser to the transaction.

Competition law

Khaitan & Co partner Manas Kumar Chaudhuri represented Dalmia Chini Mills in a suo moto enquiry against the Dalmia Bharat and Sugar Industries subsidiary, by the Competition Commission of India (CCI) for alleged price fixing, limiting production and cartelisation.  CCI cleared Dalmia of price fixing and limiting production allegations.

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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