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The latest deals involving Indian companies and law firms.

24 April 2017
Corporate M&A

“Everest Kanto Cylinder has entered into an asset purchase agreement with SNF Flopam India to sell its Land, Building and Electric Installations in Gandhidham, Gujarat for consideration of $29 million. The expected date of completion of sale would be April 30, 2017,” reported Mint.

21 April 2017
Litigation

Mason & Associates is defending Google in the Delhi high court against a writ claiming the “right to be forgotten” on the internet, in the second instance of such a claim before an Indian court.

12 April 2017
Litigation

“The fresher MBBS candidates for PG courses took out a march on Monday evening to express their resentment over the merit list. “My all Rajasthan rank is 123 in NEET from which I can get a descent branch of my choice for PG course. But, as the in-service doctors get incentive marks, my rank has gone above 700,” said Dr Manoj Bheri, an MBBS doctor, who is not an in-service doctor,” reported the Times of India.

07 April 2017
Private equity / VC

“BlackBuck, the B2B intercity logistics startup, has raised Series C funding of $70 million in a round led by Sands Capital. Among existing investors, Accel and Flipkart participated in this round, while Tiger Global and Apoletto did not.

06 April 2017
Private equity / VC

“Private equity firm Multiples has acquired a majority stake in HR technology and solutions provider PeopleStrong with an investment of around Rs 400 crore. Multiples, has made a “controlling investment” in PeopleStrong through a combination of primary and secondary investments, and sources close to the development said the deal value is around Rs 400 crore,” reported PTI.

05 April 2017
Private equity / VC

“Mumbai-based non-banking financial company (NBFC) InCred Finance, founded by former Deutsche Bank senior executive Bhupinder Singh, has secured $75 million in a funding round led by Deutsche Bank’s former co-CEO Anshu Jain. The latest investment is one of the largest fintech deals in India this year. The startup focusses on providing SME loans, home loans and education loans,” reported In Shorts.

05 April 2017
Corporate M&A

“Terex Corporation is selling its India-based compact construction business to Manitou BF (Manitou). Manitou is a leader in all terrain material handling products. Terex Equipment Private Limited (TEPL) manufactures and sells backhoe loaders, engages in the sale of wheel loaders and contract manufactures and sells skid steer loaders,” reported Business Wire.

04 April 2017
Corporate M&A

Platinum Partners Mumbai partner Gautam Bhat with associate Abhik Ghosh and associate Ushma Marwah, and Sidley Austin led by partner Manoj Bhargava, of counsel Vivek Baid, and associate Rishabh Gupta, advised Essar on the sale of its BPO subsidiary Aegis to Capital Square partners.

31 March 2017
Corporate M&A

Nishith Desai Associates Huzefa Tavawalla along with Kartik Maheshwari and Poonam Sharma acted as Indian and transaction counsel for CLIENT:: Zensar ;;.

29 March 2017
Capital Markets

Cyril Amarchand Mangaldas acted for Avenue Supermarts on one of the largest (Rs 1800 crore) and most oversubscribed (106 times) initial public offerings (IPOs) ever, alongside Luthra & Luthra and Herbert Smith Freehills Singapore for the banks, listing with a valuation of Rs 39,998 crore - the 67th largest Bombay Stock Exchange-listed company.

27 March 2017
Private equity / VC

Samvad Partners acted for Delhivery Private Limited on its Rs 650 crore ($100m) investment by private equity giant Carlyle Group along with Tiger Global.

20 March 2017
Corporate M&A

According to several sources, S&R Associates partner Rajat Sethi and UK firm Slaughter and May partner Susannah Macknay have been advising Vodafone on its long-awaited Rs 80,000 crore ($12.2bn) merger with Idea, which was formally announced today.

17 March 2017
Private equity / VC

“Bangalore-based Catbus Infolabs Pvt. Ltd, which operates intra-city logistics startup Blowhorn, has raised Rs 25 crore ($3.65 million) in Series A funding from IDG Ventures India, Michael & Susan Dell Foundation, and existing investors Draper Associates and Unitus Seed Fund, it said in a statement,” reported Techcircle. “Blowhorn, whose tech-enabled platform connects customers with mini truck owners for intra-city, sub 2-tonne deliveries, will use the funds to expand operations to eight cities over the next two years.”

16 March 2017
Finance

Juris Corp partner Veena Sivaramakrishnan , senior associate Saurabh Sharma and associate Vedika Lakhotia acted for Standard Chartered in a mixed fund-non-fund $20m loan.

15 March 2017
Corporate M&A

Dua Associates acted for Canara Bank in the sale of its 13.45% stake in Can Fin Homes, which was bought by Singapore’s sovereign wealth fund GIC for Rs 753.77 crore in an off-market deal on 10 March 2017.

23 February 2017
Corporate M&A

Bharti Airtel is buying the Indian telecoms assets of Norwegian telecoms major Telenor in a deal that’s estimated at Rs 6,800 to Rs 7,000 crore, including debts of Rs 1,500 crore, according to Moneycontrol.

17 February 2017
Corporate M&A

Freshfields Bruckhaus Deringer has topped the mergermarket value league table of international law firms that advised on M&A deals in the record 2016 calendar year.

13 February 2017
Corporate M&A

"Paris-based global toll roads concession and construction company Vinci has taken an unspecified strategic stake in TollPlus, the Phoenix-based developer of electronic toll collection systems, through its Vinci Highways US subsidiary,” reported ITS International.

01 February 2017
Corporate M&A

“Private equity (PE) firm Warburg Pincus said in a statement that it has bought a 14% stake in PVR Ltd, India’s largest multiplex chain, for Rs820 crore through an open market transaction.

30 January 2017
Litigation

Kochhar & Co has forced the makers of the Jolly LLB 2 to partially back down over its allegedly disparaging use of Bata in a trailer and scene, which we had first reported on 22 December 2016.

24 January 2017
Corporate M&A

“On 21 December, RCom signed a binding agreement with Brookfield to sell a 51% stake in Reliance Infratel for Rs11,000 crore. RCom currently owns close to a 96% stake in the company, while the remaining ownership is with minority investors,” reported Mint on 29 December 2016.

19 January 2017
Corporate M&A

I-Nurture Education Solutions Private Limited, a higher educational services company, has entered into a joint venture agreement with Galileo Global Education France Sas, which is the largest higher education company in France and Europe.

19 January 2017
Private equity / VC

Thermal Energy Solutions Pvt Ltd (TESSOL), a company engaged in providing next-generation clean technology cold chain solutions, has raised an undisclosed amount from Infuse Ventures and Ankur Capital. TESSOL, founded by Mr. Rajat Gupta, had raised seed investment from Infuse Ventures in 2014.

12 January 2017
Corporate M&A

Cyril Amarchand Mangaldas has acted on $40.4bn worth of mergers and acquisition in the 2016 calendar year, according to researcher mergermarket, with AZB & Partners having recorded $30.1bn of M&A deals in the same period.

12 January 2017
Private equity / VC

"Gurgaon-based developer Vatika Group on Friday secured Rs 700 crore funding from Altico Capital and has closed the first tranche of Rs 475 crore,” reported Mint.

11 January 2017
Corporate M&A

News Corp-backed real estate portal PropTiger said on Tuesday that Mumbai-based Housing.com will merge with it in an all stock deal, and that it will receive $50 million in fresh funds from News Corp.’s REA Group Ltd and $5 million from SoftBank Group.

09 January 2017
Private equity / VC

"EcoCentric Management Pvt Ltd (ECMPL), a Mumbai-based e-waste management firm, has raised its first round of growth capital from a couple of high net worth individuals (HNIs). The funding will be utilized to increase capacity and expand its reach pan-India,” reported Enablers Investment.

06 January 2017
Private equity / VC

"International Finance Corp (IFC), the private sector investment arm of World Bank, on Thursday said it has invested $125m in Hero Future Energies, the renewable energy arm of the Hero Group, for an undisclosed equity stake.

03 January 2017
Corporate M&A

"IDFC Bank has signed a share purchase agreement with Grama Vidiyal Micro Finance (GVMFL) for acquisition of 100 percent equity share capital of GVMFL,” according to IDFC’s filing as reported by Money Control. AZB & Partners partner Srinath Dasari and senior associate Gautam Rego acted for IDFC.

22 December 2016
Litigation

Kochhar & Co has sent a legal notice to the makers of Bollywood sequel The State vs Jolly LLB 2 on behalf of footwear empire Bata, asking them to remove and apologise for an allegedly disparaging trailer of the movie in which the reputation of Bata as a brand is allegedly damaged.

13 December 2016
Private equity / VC

"HR Food Processing, which manufactures and markets dairy products under the brand name Osam, has raised Rs 45 crore (around $6.7m) in its Series B round of funding, it said in a statement. The round was led by Lok Capital-advised Growth Catalyst Partners. HR Food’s existing investor Aavishkaar also participated in this round,” reported VC Circle.

05 December 2016
Private equity / VC

"American Express Ventures, the corporate venture investment arm of American Express Co, has led a $4m (Rs 26.6 crore) funding round in fintech startup IndiaLends, its second transaction in the country in as many months,” reported the Economic Times.

25 November 2016
Corporate M&A

“Hero MotoCorp, India’s largest two-wheeler manufacturer, is investing up to Rs 205 crore in electric automotive startup Ather Energy for a 26-30% stake in one of the biggest deals in the nascent sector. Ather has received Rs 180 crore of the total investment with the rest due to be released in tranches. The deal values the three-year-old company at Rs 680 - Rs 790 crore.” reported The Economic Times.

23 November 2016
Private equity / VC

Silicon Valley-based venture capital firm Lightspeed Venture Partners has invested $10m in Hiveloop Technology, which provides a B2B e-commerce marketplace platform under the brand ‘Udaan’. The company is founded by three former top executives of Flipkart, namely Sujeet Kumar, who led WS Retail at Flipkart, Amod Malviya, ex-CTO of Flipkart, and Vaibhav Gupta, former Senior VP who was leading product management and finance functions at Flipkart.

21 November 2016
Corporate M&A

"Direct-to-home television operator Dish TV will merge with Videocon d2h, creating India’s largest media company by sales. Dish TV is the market leader in the DTH space while Videocon is the third largest by subscribers. Their combined sales in FY16 were Rs 5,920 crore, more than Zee Entertainment, which had sales of Rs 5,850 crore. Both Zee and Dish are part of Subhash Chandra’s Essel Group.

18 November 2016
Corporate M&A

"[Quess Corp] entered into a definitive agreement to acquire a 49 per cent stake in Terrier Security Services (India) (Terrier), marking its entry into the manned guarding and security solutions business. With a track record of over 27 years, Terrier is among the leading providers of manned guarding services in India. In addition, Terrier also provides training services for security personnel and electronic security solutions to clients,” reported the Financial Express.

16 November 2016
Private equity / VC

"Square Yards Consulting Pvt. Ltd, a real estate listings and advisory firm, has raised $12 million from the private equity arm of Anil Ambani-led Reliance Group,” reported Mint.

14 November 2016
Finance

"A week after the Essar group signed a mega $12.9bn deal to sell Essar Oil and Vadinar Port to Rosneft of Russia, three banks — ICICI Bank, Axis Bank and Standard Chartered Bank — have received over $2.5bn (around Rs 16,750 crore) from the Essar group towards repayment of loans to Essar Global,” reported the Indian Express.

11 November 2016
Litigation

The Supreme Court is close to banning the sale of firecrackers in Delhi, as it today said it will soon pass an order prohibiting the licensing authority for the sale of firecrackers from issuing new licenses. It will also ask the authority to suspend existing licenses and to recall the existing stock of firecrackers with sellers.

11 November 2016
Corporate M&A

"Detergent major Nirma, which in July had agreed to buy the cement business of the French major Lafarge India, today raised Rs 4,000 crore debt to fund the deal, making it the largest rupee bond sale for a leveraged buyout,” reported Money Control.

10 November 2016
Corporate M&A

"In one of the largest deals in the retail real estate market in India, Dutch pension fund asset manager APG Asset Management and Virtuous Retail, the retail development arm of The Xander Group, have partnered to form a joint venture worth $450m, the companies said in a statement,” reported VC Circle.

07 November 2016
Capital Markets

"The Rs 1,112.50-crore IPO of Varun Beverages was subscribed 1.86 times at a price band of Rs 440-445. The public issue was open during October 26-28.” reported the Economic Times.

04 November 2016
Capital Markets

“State-owned NBCC’s share sale garnered 1.54 times subscription from institutional buyers, who put in bids totalling more than Rs 2,700 crore,” reported the Economic Times.

04 November 2016
Capital Markets

"ECL Finance, a part of the Edelweiss group, has raised Rs 502 crore by selling masala or rupee-denominated bonds to overseas investors in its debut issuance of such securities. Sun Global Investments, London and Emirates NBD Bank, Dubai are the global coordinators and joint lead managers on the transaction,” reported the Economic Times.

03 November 2016
Corporate M&A

“Wind turbine maker Suzlon Energy on Wednesday said it will sell a 49 per cent stake in its 50 megawatt (MW) solar project in Telangana to wind energy company Ostro Energy, months after selling a project to CLP India,” reported Mint.

28 October 2016
Corporate M&A

HLE Engineers made an offer to buy a majority stake in Swiss Glascoat Equipments for $9.4m. Vivro Financial Services is the manager to the open offer, according to the Bombay Stock Exchange announcement.

27 October 2016
Litigation

“Internet giants YouTube and Google are in a bind. The Madras high court has directed them to disclose details of a user (Marupakkam Seithigal) who posted a video that a private company (Lebara Foundation) termed defamatory,” reported the Times of India.

26 October 2016
Private equity / VC

"Motilal Oswal Private Equity (MOPE) managed India Business Excellence Fund – II and India Business Excellence Fund – IIA have agreed to invest Rs 100 crore to buy a minority stake in Kolkata based Ganesh Grains. The Kolkata based unlisted firm is engaged in the business of manufacturing and selling of branded food staple,” reported the Economic Times.

25 October 2016
Litigation

Tata Sons’ former chairman Cyrus Mistry, who was unexpectedly fired from the organisation on Monday, has reportedly decided to approach the Bombay high court challenging his dismissal, although we understand that no case has been filed yet.

24 October 2016
Private equity / VC

"Emerald Media, a Pan-Asian platform established by leading global investment firm KKR for investing in the media and entertainment sector, acquired a significant minority stake in YuppTV for $50m. YuppTV is one of the world’s leading over-the-top (OTT) video platforms for South Asian content offering live TV, catch-up TV and movies on-demand in 14 languages across the globe,” reported Business Wire.

20 October 2016
Corporate M&A

"Online travel firm MakeMyTrip Ltd has agreed to buy Ibibo Group’s travel business in India in an all-stock deal, creating the country’s largest online travel firm which, according to a note by Morgan Stanley, is worth $1.8 billion. The deal value wasn’t announced, but the $1.8 billion valuation and the fact that Ibibo’s owners, Naspers and Tencent, end up with a 40% stake in the merged entity, translate into a transaction worth $720 million. Naspers owns a third of Tencent, its most valuable investment.” reported Mint.

19 October 2016
Corporate M&A

"Fortis Healthcare has completed the acquisition of 51 per cent stake in Fortis Hospotel Ltd and also acquired compulsorily convertible preference shares issued by Escort Heart Institute and Research Centre,” reported the Economic Times.

15 October 2016
Corporate M&A

"The acquisition is the biggest foreign acquisition ever in India and Russia’s largest outbound deal. Billionaire brothers Shashi and Ravi Ruia have agreed to sell 98 per cent of Essar Group flagship firm Essar Oil to Russian oil major Rosneft and a consortium of oil trading firm Trafigura with private investment group United Capital Partners for $13 billion, making it the largest foreign direct investment in India.” reported The Hindu and others.

14 October 2016
Private equity / VC

VC firm DSG Consumer Partners has made a partial exit in food processing industry company Veeba Fine Foods (founded in 1983, making sauces, dips, emulsions and dessert toppings) to Brussels-headquartered Verlinvest Asia, which was created by several families of the Anheuser-Busch InBev empire to make investments in the food and beverage space.

10 October 2016
Corporate M&A

"In an attempt to boost capacity and expand its footprint into new markets, Orient Cement Ltd has struck a two-pronged deal with Jaypee Group to purchase a pair of cement businesses at an enterprise value of Rs1,950 crore,” reported Mint.

06 October 2016
Capital Markets

Squire Patton Boggs and Luthra & Luthra advised Manpasand Beverages on its approximately $80m qualified institutions placement.

04 October 2016
Corporate M&A

PDS Legal advised Tata Capital Healthcare Fund on selling its shares in Sandor Nephro Services, which was advised by Fox Mandal, to Fresenius Medical Care which was advised by Samvad Partners.

03 October 2016
Capital Markets

Cyril Amarchand Mangaldas (CAM) advised ICICI Prudential Life Insurance and ICICI Bank on Rs 60,568 million initial public offer. S&R Associates and Davis Polk & Wardwell advised the lead managers to the issue: DSP Merrill Lynch, ICICI Securities, CLSA India, Deutsche Equities India, Edelweiss Financial Services, HSBC Securities and Capital Markets (India), IIFL, JM Financial Institutional Securities, SBI Capital Markets and UBS Securities India.

30 September 2016
Private equity / VC

Legasis Partners advised deals and discounts website Nearbuy in raising Rs 15 crore ($2.25m) from non-banking financial company Blacksoil which was advised by IndusLaw.

29 September 2016
Litigation

PDS Legal won relief from entry tax, for e-commerce major Flipkart’s logistics arm Instakart, in the Patna high court.

28 September 2016
Private equity / VC

"Third-party administrator Vidal Healthcare Services Pvt. Ltd Monday said Ambit Pragma Ventures Pvt. Ltd, the private equity arm of Ambit Holdings Pvt. Ltd, has invested about $10 million in the firm to buy a significant minority stake,” reported Mint.

23 September 2016
Corporate M&A

Universal Legal advised Carlyle-backed Newgen KnowledgeWorks on acquiring a majority stake in Pune-based digital learning and software company Exult Infosolutions which was advised by LegaLogic Consulting.

20 September 2016
Corporate M&A

"PayU Global, the digital payments provider owned by South Africa’s Naspers Group, will buy rival Citrus Pay for $130 million in an all-cash deal. PayU India will have more than 30 million customers post the acquisition of Citrus Pay. The company forecast it will process an estimated 150 million transactions, worth $4.2 billion, in 2016. The deal, once concluded, is expected to provide an attractive exit to Citrus Pay’s investors—Ascent Capital, Beenos and Sequoia Capital. PayU confirmed that the early investors will exit but declined to disclose details,” reported Mint.

16 September 2016
Corporate M&A

"German drugs and crop chemicals company Bayer AG has won over US seeds firm Monsanto Co. with an improved takeover offer of around $66 billion, ending months of wrangling after increasing its bid for a third time. The $128 a share deal, up from Bayer’s previous offer of $127.50 a share, is the biggest of the year so far and the largest cash bid on record. The deal will create a company commanding more than a quarter of the combined world market for seeds and pesticides in the fast-consolidating farm supplies industry,” reported Mint.

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