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Deals in brief of the largest and smallest firms on L Capital, Morgan Stanley, Whirlpool, Wockhardt, Yatra, Eicher, Fresenius, Wolters & more

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

More deals than you can shake a stick at in our handy round-up of deals activity, with dozens of firms keeping busy.

Private equity

Private equity (PE) fund L Capital Asia’s subsidiary L Capital Eco funded Rs 108 crore for leading Indian multiplex business PVR Cinemas cinema exhibition and in-mall entertainment, gaming and food businesses
L Capital: AZB & Partners Delhi partner Vinati Kastia, senior associates Bharat Bahadur, Ritika Rathi and Satyajit Gupta and associate Shiladitya Banerjee
PVR: J Sagar Associates (JSA) founding partner Jyoti Sagar and Gurgaon partners Sidharrth Shanker and Manisha Kumar, senior associate Pallavi Puri and associate Vatsal Gaur

India-focused SME investing PE Fund Pragati India Fund co-funded Bihar-based NBFC Saija Finance, with microlending institution Accion International
Pragati India Fund: HSA Advocates partner, Navin Syiem, partner designate Harsh Arora and associates Shraddha Malhotra and Rohan Dang
Accion International: US law firm Orrick, Herrington & Sutcliffe LLP

 

Capital markets

State Bank of India (SBI) London issued India’s first public sector bank US dollar bond worth $1.25bn in 4.125 per cent notes due in 2017. Barclays Bank, Citigroup Global Markets, Deutsche Bank AG, JP Morgan Securities, Merrill Lynch, Pierce, Fenner & Smith Incorporated and UBS AG acted as Joint lead Managers (LMs) and Book Runners (BRs)
SBI: Amarchand Mangaldas Mumbai partner Niloufer Lam, and Allen & Overy
LMs and BRs: J Sagar Associates partner Dina Wadia, senior associate Uttara Kolhatkar and associate Saketa Musinipally, and Linklaters

ITNL and its Singapore-incorporated subsidiary IOPL issued local currency Renminbi bonds in Hong Kong, guaranteed by Export Import Bank of India (EXIM) and therefore rated BBB- by Fitch.

ITNL & IOPL: Amarchand Mangaldas partner Niloufer Lam and Wong Partnership partner Colin Ong as to Singaporean law
Lead managers and trustee (Deutsche Bank, RBS and UBS): Talwar Thakore & Associates partner Sonali Mahapatra and Linklaters Hong Kong partner Jeremy Webb and associate Jonathan Horan 
EXIM Bank: Dave & Girish & Co partner Girish Dave

Private sector port Gujarat Pipavav Port raised Rs 200 crore through qualified institutional placement, and a further Rs 150 crore through preferential allotment of shares to its promoter APM Terminals Mauritius. Kotak Mahindra Capital Company Limited and IDFC Capital Limited acted as the book running lead managers (BRLM)
Gujarat Pipavav Port: Amarchand Mangaldas Mumbai partner Yash Ashar
BRLM: Luthra & Luthra partner Manan Lahoty, senior associate Ravi Dubey and associates Pracheta Bhattacharya and Aditi Venkatasubramanian, and international law firm Dorsey & Whitney LLP

Sole listed Indian microfinance entity SKS Microfinance raised Rs 230 crore through qualified institutional placement, followed by raising Rs 35 crore through preferential allotment of shares. Credit Suisse Securities (India) Private Limited and Yes Bank Limited were the Joint Global Coordinators and Book Runners
SKS Microfinance: Amarchand Mangaldas Hyderabad partner Anshuman Jaiswal
Book runners: S&R Associates and Linklaters Singapore 

 

Litigation

Consumer electronics manufacturer Whirlpool won a stay in the Bombay high court on competitor Videocon’s sale of washing machines, infringing Whirlpool’s design copyright [Mint]
Whirlpool: Krishna & Saurastri Associates advocate and associate attorney Rahul Dhote
Videocon: Ram & Co

Indian music company Saregama won an injunction in the Calcutta high court against filming of a copyright infringing song in a South Indian movie Muruttukkalai, in a suit filed for injunction against release and distribution of the movie
Saregama: Khaitan & Co partner Padam Khaitan

 

Corporate/M&A and joint ventures

Goa-based water-vehicle maker and repairer Dempo Shipbuilding & Engineering (Dempo) bought 74 per cent equity in ship-builder Modest Infrastructure (MIL)
Dempo: J Sagar Associates (JSA) partner Abeezar Faizullabhoy, senior associate Devang Mehta and associate Fatema Dalal
MIL: Fortitude Law Associates (established in April 2012) Mumbai-based partner Rahul Mahajan, senior lawyer Vikrant Negi and senior associate Vinay Bhutani

French foods company Danone bought pharma company Wockhardt’s nutrition business for Rs 1600 crore
Danone: Platinum Partners and Freshfields
Wockhardt: Amarchand Mangaldas Mumbai-based managing partner Cyril Shroff and partners Ashish Jejurkar and Jaya Singhania

French development financial institution Proparco bought 20 per cent equity in the African arm of pharma company Strides Arcolab for $12.5m
Proparco: J Sagar Associates (JSA) partners Aashit Shah and Anish Mashruwala, with associate Utsav Johri, UK law firm Field Fisher Waterhouse, and Cypriot law firm Michael Kyprianou & Co LLC
Strides Arcolab: DSK Legal

Global management consultancy firm Solving Efeso bought Gurgaon-based training and consulting organisation Q-spread
Solving Efeso: J Sagar Associates (JSA) partner Manvinder Singh and associate Dishi Garg
Q-spread: Singhania & Partners

Indian VC fund Ambit Pragma Fund II bought 74 per cent equity in frozen foods business Mehta Frozen Foods Carrier
Ambit Pragma Fund II: Economic Laws Practice
Mehta Frozen Foods Carrier: J Sagar Associates (JSA) partner Abeezar Faizullabhoy, senior associate Devang Mehta and associate Fatema Dalal

Leading Indian, US and UK travel services provider Yatra Online acquired DV Travels Guru and Desiya Online Travel Distribution from leading global online travel service provider Travelocity
Yatra Online: AZB & Partners
Travelocity: J Sagar Associates (JSA) partners Abeezar Faizullabhoy, Shiraj Salelkar, Sunil Jain and Ashok Dhingra , senior Associates Devang Mehta and Smita Singh, and associates Fatema Dalal and Puneet Bhardwaj

US-based snowmobile maker Polaris Industries bought 50 per cent stake in its joint venture with heavy vehicle maker Eicher Motors for Rs 250 crore
Polaris Industries: J Sagar Associates (JSA) partner Shivpriya Nanda and senior associate Sujoy Bhatia
Eicher Motors: PRA Law Offices

German healthcare company Fresenius bought blood-transfusion technology company Fenwal Holdings
Fresenius: Amarchand Mangaldas partner Akila Agrawal, senior associate Sourav Kanti De Biswas, and associates Mukul Sharma and Megha Bhargava, and Mayer Brown LLP, Hyman, Phelps & McNamara, Biaggi & Messina and McConnell Valdes LLC
Fenwal Holdings: Ropes & Gray

Financial institutions GAWA Microfinance Fund I, India Financial Inclusion Fund, CVCI, Enam Shares & Securities Limited and Tree Line Asia Master Fund bought equity in microfinance institution Janalakshmi Financial Services for Rs 80 crore
Tree Line, Enam, Janalakshmi: AZB & Partners partner Srinath Dasari
GAWA, CVCI, India Financial Inclusion Fund: Wadia Ghandy

Leading global tax accounting and audit information services and software provider Wolters Kluwer bought leading global online accounting software provider Acclipse, and subsequently Acclipse’s Indian arm
Wolters: Khaitan & Co partner Aakash Choubey, and Kiwi law firm Buddle Findlay
Acclipse: New Zealand law firm Parry Field Lawyers

 

Project Finance

State Bank of Patiala led a consortium of 13 banks in financing Rs 1760 crore to colour-coated steel producer Asian Colour Coated Ispat Limited (ACCIL)
State Bank of Patiala & others: Khaitan, Sud & Partners principal associate Sujeet Das and senior associate Priyadarshi Debashis Satapathy

State Bank of India (SBI) led a consortium of six banks in financing Rs 1500 crore to public sector hydroelectric project THDC India
SBI & others: Khaitan, Sud & Partners partner Tanuj Sud and senior associate Priyadarshi Debashis Satapathy
THDC India: Supreme Court advocate Punit Taneja

 

Banking and finance

Bank of Baroda lent $25m to Gujarat NRE Coking Coal Limited (GNCCL)
Bank of Baroda: Majmudar & Partners partner Akil Hirani
GNCCL: In-house

Axis Bank loaned $200m to Electrosteel Castings
Axis Bank: Khaitan & Co partner Devidas Banerjee, and Norton Rose

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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