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The latest deals involving Indian companies and law firms.

20 January 2016
Corporate M&A

Alpha Partners advised online grocery service Mera Grocer on its acquisition by the hypermarket chain Spencer’s Retail which was advised by Khaitan & Co.

Alpha Delhi partner Akshat Pande acted for the Omnipresent Retail-owned Mera Grocer which currently operates in Gurgaon and some Delhi neighbourhoods.

Khaitan Mumbai partner Ashish Razdan, executive director Daksha Baxi, senior associates Alok Sonker, Shabnam Shaikh and Surajkumar Shetty, principal associate Shailendra Bhandare and associates Sunayana Bose, Abir Sarkar and Alisha Ganjawala acted for the RP-Sanjiv Goenka Group-owned multi-format retailer Spencer’s Retail.

Mera Grocer earns only Rs 5 crore in annual revenue but Spencer’s bought it less for its size and more for its robust information technology platform, reported Mint.

19 January 2016
Corporate M&A

Shardul Amarchand Mangaldas advised Red Fort India Real Estate on its Rs 600 crore ($89m) exit from Exora Business Parks, selling its stake to Valdel Extent Outsourcing Solutions which was advised by Cyril Amarchand Mangaldas. CAM also advised Exora and the promoter Prestige Estate Projects

SAM Delhi partners Jatin Aneja and VR Neelakantan, principal associate Siddhartha Sen and senior associate Varun Nair acted for Red Fort India is a fund managed by Red Fort Capital.

CAM Bangalore partner Nagavalli Gopalakrishna acted for Valdel, Exora and Prestige.

Prestige Estates, through its subsidiary Valdel, bought 62.54 per cent of Red Fort’s stake in the special purpose vehicle (SPV) Exora that owns the villa project Silver Oak, reported the Times of India adding that Rs 250 crore worth residential stock was also part of the buyout.

15 January 2016
Corporate M&A

Linklaters advised Banca Regionale Europea and 14 other Italian banks on Tech Mahindra and Mahindra & Mahindra’s buy of majority stake in Italian automotive brand Pinifarina. Gianni, Origoni, Grippo, Cappelli & Partners advised the Mahindra Group entities and Pavesio and Associates advised Pinifarina’s owner Pincar.

Linklaters Italy partner Francesco Faldi, managing associate Ettore Consalvi and associate Valentina Armaroli acted for the banks: Banca Regionale Europea, Intesa Sanpaolo, Banca Nazionale del Lavoro, UniCredit, Banca Monte dei Paschi di Siena, Banco Popolare Società Cooperativa, UBI Leasing, Monte dei Paschi di Siena Leasing & Factoring, Banca per i Servizi Finanziari alle Imprese, Selmabipiemme Leasing, UniCredit Leasing, BNP Paribas Leasing Solution, Release, Mediocredito Italiano and Banca IM

Gianni senior partner Francesco Gianni acted for IT, Networks and Engineering solutions and BPO services provider Tech Mahindra and Mahindra & Mahindra.

Pavesio founder Carlo Pavesio acted for Pincar on the sale of its automotive and industrial design brand which will continue to remain an independent company, listed on the Milan Stock Exchange, according to Linklaters’ press release.

As part of the agreement, Tech Mahindra and M&M will form a joint venture (JV), with 60 per cent stake held by Tech Mahindra. This JV will purchase 76.06 per cent stake in Pininfarina at a price of Euro 1.1 per share, followed by an open offer for all the remaining ordinary shares of Pininfarina, also at Euro 1.1 per share. A rights issue to infuse funds into Pinifarina will also be executed before the end of 2016, added the release.

The 85-year-old Pinifarina is an iconic design brand and has relationships with the best in the automobile industry including with Ferrari, Alfa Romeo, Maserati and Peugeot. But it has remained unprofitable for 10 of the last 11 years, with a consolidated revenue of 86.6 million Euros in 2014, reported The Hindu.

13 January 2016
Corporate M&A

Shardul Amarchand Mangaldas advised Texmaco Rail & Engineering on purchasing 55 per cent stake in Bright Power Projects (India) from Bright Power’s promoters who were advised by Kanga & Co. __SAM Delhi M&A partner Kalpataru Tripathy, senior associates Navin Kumar and Aditya Mehra and associate Roma A Das acted for Texmaco.

Kanga Mumbai senior partner Preeti Mehta acted for Bright’s promoters.

Bright Power is now a subsidiary of Texmaco, specialising in over-head electrification solutions for the railways with over 400 executed electrification projects in India, according to SAM’s press release.

The original board approval to Texmaco was for acquisition of 76 per cent stake in Bright Power for Rs 100 crore, according to VCCircle.

12 January 2016
Corporate M&A

Link Legal India Law Services advised Russia based investors Ru-Net on their $20m (Rs 134 crores) investment in app-based restaurant chain Faasos which was advised by BMR Legal.

08 January 2016
Corporate M&A

Khaitan & Co advised B9 Beverages on selling 20 per cent stake to Sequoia Capital which was advised by Themis Associates.

Khaitan Delhi associate partner GT Thomas Phillippe, principal associate Arjun Rajagopal and associate Akshaya Iyer acted for B9.

Themis Bangalore principal associate Ashwani Verma acted for Sequoia.

The Craft beer company B9 raised $6m (Rs 37 crore) in this round which included, in addition to Sequoia, Snapdeal and Zomato as investors for its handcrafted beer brand Bira91, reported Your Story.

08 January 2016
Capital Markets

Cyril Amarchand Mangaldas and Clifford Chance advised book runners Nomura Financial Advisory & Securities (India), Axis Capital, JP Morgan India and Edelweiss Financial Services on the Rs 1,350 crore initial public offer (IPO) of Indian pharma global giant Alkem Laboratories. Alkem was advised by Khaitan & Co.

CAM Mumbai capital markets partner Gaurav Gupte and Clifford Chance Singapore partner Rahul Guptan acted for the four global coordinators and lead managers.

Khaitan Mumbai partner Abhimany Bhattacharya, executive director Sudhir Bassi, principal associate Soumya Mohapatra and associates Aanchal Arora, Aayush Mohata, Abir Sarkar and Srikant Mantravedi acted for Alkem.

The IPO of 12,853,442 Rs 2 equity shares for cash at a price of INR 1,050 per Equity Share, through an offer for sale by the selling shareholders, aggregating to Rs 13,46.62 crore, according to CAM’s press release.

The generic drugs maker had filed its prospectus for the IPO with SEBI in August, reported Business Standard.

The original version of this story overstated the size of the IPO. We regret the error.

07 January 2016
Corporate M&A

Cyril Amarchand Mangaldas advised Essar Oil on its $559m (Rs 3,745 crore) delisting of shares from stock exchanges.

CAM managing partner Cyril Shroff, Mumbai corporate partner Ravi Kumar and partner designate Anchal Dhir acted for Essar oil on this largest Indian delist offering in terms of its payout to investors.

The company is expected to announce a delisting price of Rs 262.8 per share due to LIC’s decision to hike the price by nearly 10 per cent, which will lead the promoters - Ruias - to pay more to investors, reported the Times of India.

06 January 2016
Corporate M&A

AZB & Partners and Clifford Chance Hong Kong advised global investment banking major Goldman Sachs on its $66m (Rs 441 Crore) acquisition of minority stake in Indian hotel investor Samhi Hotels which was advised by Economic Laws Practice (ELP) and Jones Day. Khaitan & Co and Trilegal advised existing investors GTI Capital and IFC

AZB Mumbai partner Nilanjana Singh and senior associate Rinki Ganguly and associate Vijay Manjrekar, and Clifford Chance Hong Kong partner Neeraj Budhwani, senior associates John Koshy and Cheris Wong advised Goldman Sachs.

ELP Mumbai partners Sujjain Talwar and Darshan Upadhyay, associate partner Aakanksha Joshi and associate managers Amruta Kelkar and Kanisha Vora, and Jones Day Singapore partners Dennis Barskyand Karthik Kumar and associate Caitlyn McCarthy advised Samhi.

Khaitan Delhi partners Bharat Anand and Joyjyoti Mishra, principal associate Arjun Rajagopal and associate Nidhi Kilawala advised GTI Capital.

Trilegal Delhi partner Ravindra Bandhakavi, counsel Vaibhav Kothari and senior associate Parnika Malhotra acted for IFC

17 December 2015
Corporate M&A

AZB & Partners overtook Khaitan & Co, and the split firms of Amarchand Mangaldas, on data provider Mergermarket’s M&A leader board this year, where the combined deal value of the Amarchand Mangaldas firms would have led the value rankings by a margin of $4bn.

17 December 2015
Litigation

The dispute resolution team of Shardul Amarchand Mangaldas (SAM) acted for YuTeleventures and its three directors, Rahul Sharma, Sumeet Kumar and Vikas Jain before a division bench of Delhi high court where they appealed against the order of a single judge of the Delhi high court issuing bailable warrants against them in a contempt of court case.

02 December 2015
Corporate M&A

Talwar Thakore & Associates (TT&A), advised the AXA Group in the increase of its equity stake from 26 per cent to 49 per cent in its Indian life and general insurance joint ventures with the Bharti group member Bharti AXA Life Insurance Company Limited and Bharti AXA General Insurance Company Limited, which were advised by AZB & Partners in Delhi.

The TT&A team included partner Kunal Thakore and associate Deepa Christopher, while executive chairman Vinod Dhall and associate Sonam Mathur advised on competition law aspects.

AZB’s team included partners Gautam Saha and Sachin Mehta.

AXA will invest another Rs 1,290 crore in both joint venture companies, reported Mint.

AXA is the first foreign insurer to procure all regulatory approvals (from the Foreign Investment Promotion Board, the Insurance Regulatory and Development Authority of India and the Competition Commission of India) and complete the increase of its stake in its Indian joint ventures following the increase in the foreign investment permitted in the insurance sector.

01 December 2015
Corporate M&A

Trilegal advised Japan based company Mitsui in investing Rs 343 crores ($51.6 m) in online shopping portal Naaptol which was advised by Dua Associates.

Nishith Desai Associates advised other existing shareholders of Naaptol, NEA FVCI, NEA FDI , CMDB II, ICP Holdings I and SVB India Capital 2006. With this deal the stake of Mitsui in Naaptol increased from 5 per cent to 20 per cent.

Trilegal partner Kunal Chandra, senior associate Kabeer Mathur and associates Aditi Jain and Rahil Pereira acted for Mitsui.

Dua Mumbai partner Anish Ghoshal, senior associate Natasha Buhariwalla and Rajat Agarwal acted for Naaptol.

Nishith senior associate Parag Srivastava and associate Aishwarya H acted for the existing shareholders of Naaptol.

Naaptol valued at Rs 2000 crores ($302 m) post investment, claims to reach about 160 million TV households in India on a daily basis, while processing about 20,000 orders a day and offers it’s goods and services across multiple channels, including, print, television, web, mobile and direct marketing reported The Economic Times.

30 November 2015
Corporate M&A

Shardul Amarchand Mangaldas (SAM) advised Singapore based hyperlocal delivery startup Grofers Group in the $120m (Rs 800 crore) investment in it by SoftBank Group, Tiger Global, Apoletto Asia and Sequoia Capital in a series D round of investment. The investors were advised by Morrison & Foerster, Cyril Amarchand Mangaldas (CAM), Gunderson Dettmer Stough Villeneuve Franklin & Hachigian and Themis Associates.

SAM Delhi partner Puja Sondhi, senior associate Sumeet Singh and senior associate designate Vasundhara Garg acted for Grofers.

CAM Mumbai partners Ashwath Rau and Shishir Vayttaden and consultant Nirmal Vathani, and Morrison & Foerster of counsel Amit Kataria acted for Softbank.

Themis senior associate Dheeraj Khanna acted as the legal advisor to Sequoia Capital.

Gunderson Dettmer senior partner Steven L Baglio and New York lawyers Salil Gandhi and Suneela Jain acted for Tiger Global.

DST Global’s in house legal team advised Apoletto Asia.

Grofers is now valued at about $400 m (Rs 2,664 crore) reported Economic Times. It was valued to be $33m in February this year. The money will be used to expand the company’s business and to build its supply chain, its CEO Albinder Dhindsa was quoted as saying.

27 November 2015
Corporate M&A

Wadia Ghandy advised car trading website CarTrade owned by MXC Solutions on its $120m (Rs 790 crore) acquisition of CarWale, another car trading website owned by Automotive Exchange, from its founder Mohit Singh and its existing shareholder Axel Springer. CarWale was advised by Nishith Desai Associates. Axel Springer was advised by Khaitan.

Wadia Ghandy partners Radhika Bhatt and Gautam Ganjawala acted for CarTrade.

Nishith Desai acted for CarWale and its founder Mohit Dubey.

Khaitan partners Niren Patel, Rabindra Jhunjhunwala, Kumar Saurabh Singh, Anand Mehta, Bijal Ajinkya and Adheesh Nargolkar, principal associates Moin Ladha and Shailendra bhandare, senior associates Aravind Venugopal, Ashraya Rao, Ahana Sinha and associates Adyasha Das, Siddharth Sawhney, Parvati Parkkot, Yashashree Mahajan, Vijayaraghavan, Ankit Namdeo and Alisha Ganjawala acted for Axel.

This is reported to be the second biggest consolidation in the automobile market in India by The Economic Times.Axel Springer, one of the majority stakeholders will exit CarWale after the completion of the deal and the merged entity shall have about 2,000 employees with some 9,000 car dealers and 2.25 lakh used cars listed on the platform said their press release.

27 November 2015
Corporate M&A

Bharucha & Partners advised Idea Cellular on its Rs 3310 crore ($500m) buy of Videocon’s Uttar Pradesh and Gujarat circle telecom spectrums, reported the Economic Times. Shardul Amarchand Mangaldas (SAM) advised Videocon.

Bharucha partner Alka Bharucha, senior associate Siddharth Manchanda, and associate Ayesha Bharucha acted for Idea.

SAM executive chairman Shardul Shroff, partners Vidyut Gulati and Asim Abbas and senior associate Kushal Sinha acted for Videocon.

This is India’s first telecom spectrum trading transaction since the notification of Guidelines for Trading of Access Spectrum by Access Service Providers by the Department of Telecommunications on 12 October 2015, according to the press release.

26 November 2015
Corporate M&A

Cyril Amarchand Mangaldas advised US private equity bulgebracket firm Kohlberg Kravis Robert (KKR) on its $115m (Rs 762 crore) acquisition of 72 per cent stake in investment bank Avendus Capital which was advised by Khaitan & Co.

Khaitan Mumbai executive director Daksha Baxi, core transaction partners Haigreve Khaitan and Niren Patel, regulatory team partners Siddharth Shah, Arindam Ghosh, direct tax partner Sanjay Sanghvi, principal associate Ritu Shaktawat, senior associate Deepak Jodhani, Kaushalya Shetty,Ashish Mehta, associates Vinita Choudhury and Yashashree Mahajan acted for Avendus.

CAM partners Reeba Chacko, Ipsita Dutta and Nisha Kaur Uberoi, senior advisor financial services Anand Sinha and of counsel Usha Narayanan acted for KKR

The acquisiiton was made through a combination of new shares and a secondary sale of stock by its promoters, in two tranches - first part being 62.2 per cent, according to Khaitan’s press release.

The equity value of Avendus Capital will increase to $180m or Rs 1,120 crore after this transaction reported the Economic Times.

Avendus will use the sale proceeds to become a lender and strengthen its advisory and alternate asset-management businesses. The company is looking forward to scale up its existing businesses and build a non-banking finance company (NBFC) business focusing on mid-market companies and their owners. Some part of the proceeds will also be used to build new products in the alternative asset management business, added ET.

26 November 2015
Private equity / VC

Samvad and Head Partnership advised IDG Ventures India Fund, Pandara Trust Scheme and Kalaari Capital Partners on their $2m investment, alongside investor 500 Startups, in digital media platform POPxo which was advised by PDS Legal and Gordon Dadds. 500 was advised by Penningtons Manches.

Samvad partner Neela Badami, senior associate Varsha Aithala and associate Anisha Shroff, and Head partner Stuart Mullins acted for IDGVI, Pandara and Kalaari.

PDS principal associate Anirudh Mukherjee, senior associates Deepti Thakkar and Karuna Thapa and associates Samyuktha Damojipurapu and Ankita Jain, and Gordon partner Deborah Evans acted for POPxo.

Penningtons partner James Klein acted for 500 Startups.

POPxo, which was launched in 2014 to blog about fashion, beauty, work, relationships and other personal issues of interest to women readership in the age group of 18-34, currently claims to be attracting nine million monthly pageviews and three million unique visitors, reported Your Story.

Having launched in March 2014 and relying on native advertising and sponsored content for its revenues, it raised Rs 3 crore from Chennai Angels in November that year, added Your Story.

24 November 2015
Private equity / VC

IndusLaw advised Olacabs on raising $500m (Rs 3,320 crore) from 15 investors, some of which were advised by Nishith Desai Associates (NDA), Cyril Amarchand Mangaldas (CAM) and foreign law firms Goodwin Proctor, Gunderson Dettemer, Morrison & Foerster, Ropes & Gray and Fangda Partners.

23 November 2015
Corporate M&A

The details of the transaction has been removed since initial publication at the request of JSA.

19 November 2015
Corporate M&A

Advaita Legal advised Berlin based educational television channel Da Vinci on forming a joint venture with Indian digital magazine The Quint which was advised by BMR Legal. The television programme Da Vinci Learning was launched in India on 18 November after the deal was completed.

Advaita principal Satyajit Gupta and associates Saurabh Sharma and Avichal Mathur acted for the Da Vinci Media and Da Vinci Media India.

BMR partner Amit Khansaheb and managing associate Nikhil Sachdeva represented The Quint.

Da Vinci GmbH was cleared for up to Rs 5 crore of FDI, by the Foreign Investment Promotion Board (FIPB) in November 2013, to set up a wholly owned subsidiary which would carry out the downlinking and distribution of a non-news and non-current affairs edutainment channel, reported Medianama.

09 November 2015
Corporate M&A

AZB & Partners advised Singapore based infrastructure company Cube Highways & Infrastructure on its Rs 248 crores ($37.4m) buy of Madhucon Agra Jaipur Expressways (MAJEL) which was advised by Nishith Desai Associates (NDA).

AZB partner Yashwant Mathur, senior associates Esha Pruthi and Ambarish Mohanty and associates Shridha Malhotra, Devanshu Sajlan and Nitin Saluja acted for Cube.

NDA partner Rajesh Simhan advised MAJEL

Cube would operate the 57 kilometers stretch of National Highway 11, connecting the cities of Mahua and Bharatpur, on build operate transfer (BOT) basis connecting tourist corridors of Agra and Jaipur. MAJEL started operating in 2009.

International Finance Corp (IFC), a part of the World Bank group, had picked up a 20 per cent stake in Cube which is promoted by I Squared Capital. IFC had committed a $100m (Rs 6640 crore) investment in Cube, which will primarily acquire operating road assets in India, reported Mint.

03 November 2015
Corporate M&A

AZB & Partners advised former Vodafone CEO Arun Sarin and his family on their acquisition of a minority stake in ANI Technologies which runs taxi app Ola. Ola was advised by IndusLaw.

AZB Delhi partner Anil Kasturin and senior associate Jaishree Tolani acted for Sarin who, as Mint reported, is joining Ola as an independent director.

Indus declined to comment but it is understood that Noida partner Gaurav Dani led the deal for Ola.

Founded in January 2011 by two IIT Bombay alumni, Ola currently plies over 20,000 vehicles in over 100 Indian cities, is backed by investors such as DST Global, GIC, Falcon Edge Capital, SoftBank Group Corp., Tiger Global Management LLC, Steadview Capital and Accel Partners, acquired rival TaxiForSure this year in a deal worth $200m, and is being investigated for predatory pricing allegations in the Competition Commission of India, even as the Delhi high court imposed a ban on it.

03 November 2015
Corporate M&A

Khaitan & Co advised Indian stationery maker Writefine Products on selling 32.5 per cent equity to Italian art products maker and distributor Fabbrica Italiana Lapis ed Affini (FILA). FILA was advised by AZB & Partners and Italian law firm Studio Legale Salonia Associati.

Khaitan associate partner Mehul Shah, senior associate Vivek Sriram,and associate Vidur Sinha acted for Writefine Products.

AZB Partner Alka Nalavadi acted for FILA which was increasing its shareholding in Writefine to 51 per cent from 18.5 percent.

Writefine Products, a Gujarat-based company that claims to have close to 3,000 employees, was valued at around Rs 740 crore (around $114m) in the deal, reported VCC Circle.

02 November 2015
Corporate M&A

Khaitan & Co acted for Reliance Telecommunications in its acquisition of the wireless business of J Sagar Associates (JSA)-advised Sistema Shyam Teleservices for Rs 2,100 crore of equity, while also taking on Rs 2,400 crore of Sistema’s debt to the government.

02 November 2015
Corporate M&A

Delhi based lawyer Abhay Vohra, who went independent from big law firms a year ago, advised CL Educate on acquiring 51 percent stake in education consulting company Accendre Knowledge Management, which was advised by its in-house legal team.

30 October 2015
Corporate M&A

Khaitan & Co advised rail freight car makers, the Australia-based UGL Rail Services and the Indian Texmaco Rail and Engineering on UGL’s sale of its 50 per cent stake in its joint venture with Texmaco – Texmaco United Group Rail.

Khaitan Kolkata partner Padam Khaitan, associate partner Arindam Sarkar and associates Shourya Sengupta and Prithwijit Gangopadhyay acted for UGL

Khaitan Mumbai partner Haigreve Khaitan, associate partner Anuj Sah and Associate Sunayana Bose acted for Texmaco.

UGL sold its share in the Indian joint venture because it was starved of orders after the downturn in locomotive sales in Australia, and it was set up for primarily catering to the Australian market, reported the PTI.

27 October 2015
Capital Markets

Khaitan & Co advised computer security software company Quick Heal Technologies on its $38.5m (Rs 250 crore) Initial Public Offering of fresh issue of equity shares and and an offer for sale of 6,814,736 equity shares by existing shareholders, consisting of Kailash Sahebrao Katkar, Sanjay Sahebrao Katkar, Sequoia Capital India Investment Holdings III, and Sequoia Capital India Investments III

The investors were advised by _Cyril Amarchand Mangaldas _partner Arjun Lall. Luthra & Luthra Mumbai partner Manan Lahoty acted for the book running lead managers which were also advised by Sidley Austin Singapore partner Prabhat K Mehta.

Khaitan Mumbai executive director Sudhir Bassi, partner Abhimanyu Bhattacharya, principal associates Thomas George and Ashwinee Oturkar, associates Oishik Bagchi, Abir Sarkar and Manasi Gandhi acted for Quick Heal.

The company has filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) reported on 29 September and ICICI Securities, Jefferies India and JPMorgan India are the book running lead managers to the issue reported Times.

26 October 2015
Corporate M&A

Khaitan & Co advised IT and software outsourcing company HCL Technologies on its acquisition of Swedish multinational group Volvo’s external IT business for $138m (Rs 895 crore) in an all cash deal. London based law firm Greenberg Traurig Maher LLP represented Volvo.

Khaitan Delhi partner Joyjyoti Misra, senior associate Shruti Singh and associate Sanchit Agarwal acted for HCL

The two companies have also signed a letter of intent under which the Volvo Group will also outsource its IT infrastructure operations to HCL Technologies for an undisclosed amount for five years. Around 2600 Volvo personnel affected by the transaction would be offered to move to HCL according to report by Firstpost.

The transaction will be closed during the second quarter of 2016 and will provide both cost savings and a capital gain, Volvo said.

26 October 2015
Corporate M&A

J Sagar Associates (JSA) advised Reliance Capital (RCAP) on the Rs 1200 crore ($180m) sale of 14 per cent stake in Reliance Capital Asset Management (RCAM) to Japan’s largest life insurance company Nippon Life Insurance (NLI). NLI was advised by Khaitan & Co and Anderson Mori & Tomotsune.

JSA Mumbai partners Dina Wadia and Gautam Gandotra, senior associate Gagan Sharma and associate Upamanyu Talukdar acted for RCAP

Khaitan partner Niren Patel, senior associates Aravind Venugopal and Ritwik Kulkarni and associate Vidur Sinha and Anderson partner Ryo Kotoura and associate Masahiko Yasui acted for NLI

According to the press release, the stake sale would lead to change in controlling interest in RCAM according to mutual fund rules of the Securities and Exchange Board of India (SEBI) as NLI already had 35 per cent stake in RCAM This deal will trigger the exit option for various unit holders of various mutual fund schemes of Reliance Mutual Fund.

According to the report by TOI, this is the largest foreign investment in the mutual fund industry in India. Post the stake sale, Reliance MF will be renamed as Reliance Nippon MF

23 October 2015
Private equity / VC

Indus Law advised Qualcomm Ventures and Themis Law Associates advised Norwest Venture Partners on infusing $10m (Rs 65 crore) in Chennai based health tech start-up, Attune Technologies. Attune Technologies was advised by Universal Legal Chennai.

Universal partner Sameena Chatrapathy and associates Shreya Deora and Vidisha Pulimood acted for Attune in the deal which, according to Business Standard was valued at Rs 65 

Bangalore partner Suneeth Katarki and senior associate Pallavi Kanakagiri acted for Qualcomm Ventures in their reportedly first investment from their India focused fund worth $150m (973 Crore).

23 October 2015
Corporate M&A

J Sagar Associates (JSA) advised Union Bank of India on its acquisition of 49 per cent shareholding in its joint ventures, Union KBC Asset Management Company (KBC-AMC) and Union KBC Trustee Company (KBC-TC) from KBC Participation Renta. KBC Participation Renta was advised by BMR Legal.

JSA Mumbai partner Dina Wadia, senior associate Manav Raheja and associate Viraj Bathe acted for Union Bank of India.

BMR Legal partner Souvik Ganguly, managing associate Vishruta Kaul and associate Deep Jain acted for KBC Participations Renta which a group company of Luxembourg based KBC Asset Management NV

The acquisition will be complete subject to regulatory approvals from the Securities and Exchange Board of India (SEBi) and the Competition Commission of India (CCI). After this acquisition, both Union KBC Asset Management and Union KBC Trustee Company will become wholly-owned subsidiaries of Union Bank of India reported Business Standard.

21 October 2015
Corporate M&A

Veritas Legal advised Recipharm AB, a Swedish pharmaceutical company on investing $103m (Rs 671.2 crore) in Nitin Lifesciences, an Indian pharma company which was advised by Khaitan & Co.

Veritas partner Partner Nandish Vyas and Associates Natasha Sethna and Tejasvi Saxena acted for Recipharm.

Khaitan Mumbai partner Kalpana Unadkat, senior associate Shweta Dwivedi and associate Bidya Mohanty acted for Nitin Lifesciences.

Recipharm, will buy 74 per cent in Nitin Lifesciences, reported Livemint

19 October 2015
Corporate M&A

Themis Partners advised Sequioa on its $34m (Rs 220.39 crore) co-infusion in ethnic handicrafts website Craftsvilla. The other investors in this round were Lightspeed Venture Partners advised by Luthra & Luthra, Global Founders Capital advised by Tamara Thompson , Nexus and Apolleto which was advised by US based firms Tamara Thompson and DST Global services.

Themis principal associate Ashwani Verma, senior associate Dheeraj Khanna and associates Rayan Azmi and Abhishek Dwivedi acted for Sequoia.

Luthra partners Deepak Joyce and Shinoj Koshy with managing associate Neha Sinha and associate Akansha Dalal advised Lightspeed.

Earlier this year Craftsvilla had rasied $1.5m from Lightspeed and Nexus, as reported by Medianama.

12 October 2015
Corporate M&A

Khaitan & Co and _Skadden, Arps, Slate, Meagher & Flom_ acted for clinical trial service provider Bioclinica in its aqcuisition of global pharmacovigilance, regulatory affairs and IT services provider Synowledge. Synowledge was advised by Goodwin Procter and Nishith Desai Associates (NDA).

Khaitan partner Rajat Mukherjee, executive director Daksha Baxi, associate partner Kabir Bogra, principal associates Monika Srivastava, Ritu Shaktawat and Sameer Sah, associates Nidhi Killawala, Sanchit Agarwal and Shreya Shree and Skadden Arps partner Robert Pincus, counsel Faiz Ahmad and associate Vincent J Cannizzaro acted for Bioclinica.

NDA partners Mansi Seth and Nishchal Joshipura and Goodwin partner Stuart Rosenthal and associate Oreste Cipolla acted for Synowledge.

Synowledge employs around 500 persons in North America, Europe, India and Japan. The founder of Synowledge, Sankesh Abbhi would serve as senior vice president and head of global safety and regulatory solutions at the merged entity reported Outsourcing Pharma.

08 October 2015
Corporate M&A

J Sagar Associates (JSA) advised renewable energy company BLP Energy on its $33.8m (Rs 220 crore) acquisition by Italy’s Enel Green Power which was advised by Khaitan & Co and Ashurst Singapore and Italy.

JSA partner Sidharrth Shankar and associates Prakriti Jaiswal and CV Srikant acted for BLP

Khaitan Mumbai partner Joy Jacob and Ashurst Singapore partner Keith McGuire acted for Enel.

This year US-based SunEdison and First Solar, Russia’s OAO Rosneft, China’s Trina Solar, Japan’s SoftBank and Taiwan’s Foxconn Technology have either invested or evaluated investing in the Indian renewables sector, reported Mint.

08 October 2015
Corporate M&A

Hengeler Mueller advised Indian pharma company Lupin on buying the assets of German pharma company Temmler Pharma which was advised by German firm CMS Hasche Sigle.

Hengeler partner Daniela Favoccia, counsel Patrick H Wilkening, partners Dirk Uwer and Christian Hoefs, counsel Andrea Schlaffge and associates Daniel A Spitze, Abhijit Narayan, Anne Broll, Lars Mesenbrink, Susanne Koch and Alla Hajut acted for Lupin.

This is Lupin’s fourth overseas acquisition in 2015 reported Mint. It has acquired pharmaceutical companies in Russia, Brazil and Mexico earlier in 2015, strengthening its portfolio, the report said.

30 September 2015
Corporate M&A

Shardul Amarchand Mangaldas has acted for the owners and existing investors of Paytm, including One97 Communications, which saw a $575m investment from Chinese e-commerce and internet behemoth Alibaba and its affiliate Ant Financial, which drafted in Trilegal in Mumbai.

30 September 2015
Private equity / VC

IndusLaw advised Accel and AZB & Partners advised International Finance Corporation on their $37m (Rs 247 crore) co-funding of Healthvista alongside investors Qualcomm Asia Pacific and VenturEast which were advised in house. Healthvista runs home healthcare company Portea Medical.

Indus Bangalore partner Kartik Ganapathy, senior associate Basava Rao and associates Ramya Sridhar, Vivek BN and Mary Sebastian acted for Accel.

AZB Delhi partner Amrita Patnaik and senior associate Dushyant Bagga acted for IFC Portea raised $9m from Accel, Qualcomm Ventures and VenturEast in December 2013, according to VC Circle.

29 September 2015
Corporate M&A

J Sagar Associates (JSA) advised Fidelity Growth Partners on investing $9m (Rs 60 crore) in Shadowfax Technologies which was advised by Avigna Law.

JSA Delhi partner Manvinder Singh, senior associate Zain Pandit and associates Sonali Kapoor, Ritika Arora and Akhil Bhardwaj acted for Fidelity.

Bangalore-based Avigna Law partner Chitra Raghavan acted for Shadowfax.

Fidelity made $9m the infusion through its investment arm Eight Roads, into shadowfax which is a hyperlocal delivery services start-up for restaurants and retailers, reported VC Cirlce.

28 September 2015
Corporate M&A

AZB & Partners advised India’s largest doctor discovery platform Practo Technologies on its over $10m buy of smaller rival Qikwell Technologies India which was advised by Nishith Desai Associates (NDA).

AZB Mumbai partners Ashwin Ramanathan and Nilanjhana Singh and senior associate Parthasarathi Jha acted for Practo.

NDA Bangalore partner Vaibhav Parikh and associates Sangeeta Rana and Shreyas Bhushan acted for Qikwell.

Practo has bought four businesses in the last five months, including Qikwell, reported Mint according to which the other acquisitions were Insta Health, product outsourcing firm Genii and FitHo.

24 September 2015
Corporate M&A

J Sagar Associates (JSA) acted for First Carlyle Ventures Mauritius, whose affiliate is advised by The Carlyle Group, and the promoters and management shareholders of telecoms software company Elitecore Technologies Limited, in their sale of 100 per cent of Elitecore for Rs 180 crores to optical fibre maker Sterlite Technologies, which was advised by Cyril Amarchand Mangaldas partner Santosh Janakiram and partner designate Himanshu Dodeja.

JSA partner Vikram Raghani and senior associates Anand Lakra and Avinash Jethwani led the team for Carlyle.

JSA had also advised First Carlyle Ventures Mauritius during its initial investment in Elitecore. The deal will expand Sterlite’s broadband offering, reported PTI.

21 September 2015
Corporate M&A

Shardul Amarchand Mangaldas (SAM) advised the Dodsal group on the sale of its Pizza Hut franchise rights to another Pizza Hut franchise owner in India Sapphire Foods India which was advised by Luthra & Luthra.

SAM managing partner Pallavi Shroff assisted by senior counsel Soli Cooper, partner Shilpa Mankar Ahluwalia, principal associate Divi Dutta and associate Sumi Saikia acted for the Dodsal group which owned the rights to operate South West India’s 81 Pizza Hut outlets in eight states.

Luthra Mumbai partner Bikash Jhawar and associates Nipun Vaid and Rohan Shah acted for Sapphire which, after this deal, became one of the largest owners of the Pizza Hut franchise in India.

Sapphire acquired Dodsal Hospitality from Dodsal Lifestyle Mauritius and its other affiliates, according to SAM’s press release.

28 August 2015
Corporate M&A

Gammon India has sold nine Indian project companies of Gammon Infrastructure Projects to a subsidiary of US asset management giant Brookfield Asset Management for around Rs 563 crore.

17 August 2015
Corporate M&A

Birla Corporation bought the Eastern cement plants of Lafarge for Rs 5000 crore from Lafarge India following the Competition Commission of India (CCI) order for the French company to divest itself of the units after its Rs $44bn merger with Holcim.

05 August 2015
Private equity / VC

Bertelsmann India Investments did a follow-on investment with Goldman Sachs, Zodius Capital and Norwest Venture Partners in the operator of Indian furniture online shop Pepperfry.com, which saw a $100m financing round, reported Mint and others.

Pepperfry was advised by BMR Legal Bangalore partner Siddharth Nair.

S&R partners Rajat Sethi and Rachael Israel and associate Raya Hazarika acted for Bertelsmann.

Nishith Desai Associates Mumbai M&A practice co-head Simone Reis acted for Goldmans.

Khaitan & Co partner Siddharth Shah, associate partner Surbhi Kejriwal, senior associate Abhiraj Krishna and associate Aayush Tainwala acted for Zodius. They were assisted by partner Bijal Ajinkya and senior associate Aditi Mukundan on tax issues.

31 July 2015
Corporate M&A

Cyril Amarchand Mangaldas acted as legal counsel to BNP Paribas in its Rs 2,000 to 2,200 crore acquisition of Sharekhan, with AZB & Partners acting for the sellers.

J Sagar Associates (JSA) Mumbai partners Somasekhar Sundaresan, Vikram Raghani and Jamshed Bhumgara acted for the management shareholders of Sharekhan.

Cyril Amarchand Mangaldas Mumbai-based corporate partners Ashwath Rau and Shishir Vayttaden led the team for BNP. Senior advisor Anand Sinha, who was formerly deputy governor at the Reserve Bank of India (RBI), advised on regulatory aspects, while Bangalore-based employment partner Rashmi Pradeep assisted with labour law-related advice.

Tax advice was handled by Cyril Amarchand New Delhi-based tax partner SR Patnaik, while Mumbai-based partner Nisha Kaur Uberoi handled the competition law aspects.

AZB Mumbai-based partner Vaidhyanadhan Iyer acted for the multiple sellers.

The Rs 2,000 crore deal was signed on 30 July 2015 and is expected to close by 31 January 2016. The online share trading platform’s sale to BNP has been hailed as a vote of confidence in India’s equity market, reported Economic Times.

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