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The latest deals involving Indian companies and law firms.

30 July 2013
Corporate M&A

The Securities and Exchange Board of India (SEBI) is examining the terms of the agreement between Ambuja Cements and Holcim.

25 July 2013
Projects

Digging up projects work Amarchand Mangaldas solidified its lead in the Indian project finance league tables ahead of Luthra & Luthra, as AZB & Partners pushed its way into the top three.

17 July 2013
Corporate M&A

PVR CinemasLuthra & Luthra advised India’s largest multiplex operator PVR in its Rs 1,000 crore contract with BMR-advised Big Tree.

16 July 2013
Private equity / VC

HSA Advocates advised Invest India Micro Pension Services (IIMPS) and its promoters in raising funds from German promotional bank KfW for a 30 per cent stake in IIMPS. KfW was advised by its in house legal team.

AZB & Partners partner Hardeep Sachdeva advised the Michael & Susan Dell Foundation, which is one of the shareholder’s in IIMPS, alongside UTI Asset Management and SEWA.

HSA partner Harvinder Singh and senior associate Sumedha Dutta acted for IIMPS, which distributes financial services to lower income groups, including savings schemes for old age.

11 July 2013
Corporate M&A

M&A: Biggest slice, or rest of the pie?AZB & Partners dropped off data provider Merger Market’s half-yearly (H1) M&A league table despite reporting 21 deals – the highest among India’s top ten law firms.

05 July 2013
Private equity / VC

DSK Legal advised Fortune 500 companies’ analytics provider Fractal Analytics in the Rs 150 crore ($25m) cash injection by private equity (PE) firm TA Associates, which was advised by Nishith Desai Associates (NDA) and Goodwin Procter.

DSK Legal Mumbai partner Tushar Ajinkya acted for Fractal.

NDA Bangalore partner Vaibhav Parikh and Goodwin Hong Kong partner Yash Rana acted for TA Associates.

PE firms invested about $2.3bn across 82 deals in this year’s second quarter, increasing by around 17.7% from last year in the same quarter when $1.98bn were invested across 114 transactions, according to the Business Standard.

02 July 2013
Litigation

PnA Law Offices advised engineering Joint Entrance Examination (JEE) candidate Arnav Ohri in challenging the government assessment process, introduced by Kapil Sibal, for admission to undergraduate engineering programmes in top Indian institutes including the IITs and the NITs.

01 July 2013
Corporate M&A

Desai & Diwanji advised auto parts maker Amtek Auto, which bought 51.2 per cent in the Jamshedpur-based JMT Auto for Rs 110 crore ($18.4m), according to VCCircle. JMT Auto was advised by Amicus.

Desai & Diwanji Gurgaon-based partner Raghav Mathur assisted by senior associates Nikhil Sachdeva and Jinni Sinha with associates Amanjot Malhi, Nakul Batra and Nitya Chadha acted for Amtek. The company made an open offer to purchase an additional 26 per cent equity in JMT for Rs 55.6 crore.

Amicus co-founding partner Shivi Agarwal acted for JMT, which had revenues of over Rs 300 crore on 31 March, according to the Economic Times. Amtek is backed by funds ChrysCapital and Warburg Pincus, and ChrysCapital also holds 30.5 per cent in JMT, according to VCCircle.

27 June 2013
Corporate M&A

Vaish Associates advised pre-school network Brainworks Learning Systems and its investor Kusumbala Investments in selling out for Rs 5 crore ($824,810) to pre-school network Tree House Education & Accessories. Tree House was advised by Wadia Ghandy.

Vaish Associates Mumbai corporate and banking partner Sandhya Iyer with senior associate Yatin Narang and associate Ishita Roy acted for Brainworks which, according to Business Standard, has 13 self-operated and 51 franchisee centres all over India.

Wadia Ghandy Ahmedabad partner Tanvish Bhatt with senior associate Shreya Desai acted for Tree House which will now have 450 centres across India, reported the paper.

26 June 2013
Corporate M&A

HydrocarbonAmarchand Mangaldas advised Videocon Hydrocarbon Holdings (VHHL) on the Indian leg of the $2.475bn (Rs 14,827 crore) sale of its 10 per cent stake in a Mozambique gas field in Brazil.

25 June 2013
Corporate M&A

IndusLaw advised the founders of Redbus and its early investors Helion, Inventus and Seed Fund, in selling out the online bus-ticketing service for $100m (Rs 597 crore) to the Ibibo Group, which is a joint venture of South African Media giant Naspers and Chinese internet company Tencent.

Amarchand Mumbai partners Vandana Shroff and Ajay Joseph acted for the Ibibo Group, which owns online travel aggregators Goibibo and TravelBoutiqueOnline.

IndusLaw Bangalore partner Suneeth Katarki with associates Basava Rao, Rashi Saraf, and Sherill Pal acted for the Bangalore-based Pilani Softlabs’ founders Phanindra Sama and Charan Padmaraju and the other investors in the buy-out of the seven-year old company.

In 2012 RedBus earned Rs 350 crore selling tickets over Rs 600 crore on more than 10,000 bus routes, according to Mint.

20 June 2013
Corporate M&A

Amarchand Mangaldas advised State Bank of India (SBI), SBI Trustee and SBI AMC in buying Japan’s second-largest brokerage group Daiwa Security Group’s Daiwa Mutual Fund. Daiwa was advised by AZB & Partners. SBI will buy the Japanese fund for more than Rs 1.3 crore ($220,000), reports Mint.

Amarchand Mangaldas Mumbai corporate partners Ashwath Rau and Aysswarya Murthi acted for the buyers, which will acquire Daiwa’s sponsorship, trusteeship and management.AZB & Partners Mumbai partner Alka Nalavadi and associate Rushabh Maniar acted for Daiwa Asset Management Company’s Indian and Japanese arms and Daiwa Trustee Company.

Daiwai Mutual Fund is selling out to SBI because it wants to cut costs and jobs outside Japan, and because India poses regulatory uncertainties, waning retail investor interest in equity markets, wafer-thin margins and a highly competitive environment, reported the Times of India.

19 June 2013
Private equity / VC

Dua Associates advised advertisement seller Amagi Media Labs in its second fundraising round of Rs 27.5 crore ($4.7m) from global venture capital (VC) fund Mayfield FVCI, which was advised by Economic Laws Practice (ELP).

Dua Associates Mumbai partner Vinod Joseph with senior associate Sugandha Kamal and associate Rajat Agarwal acted for Amagi which, according to Medianama, targets city-based advertisers wanting to broadcast ads on TV.

ELP Mumbai partner Yashojit Mitra acted for Mayfield, which has $2.7bn assets under management, according to VCCircle.

18 June 2013
Real estate

Luthra & Luthra advised Max India’s year-old subsidiary arm Antara Senior Living in setting up a Dehradun-based living community for senior citizens.

14 June 2013
Private equity / VC

J Sagar Associates (JSA) advised Bangalore-based milling machine maker Milltec Group in Mauritian fund Multiples’ buy-out of half its equity for Rs 250 crores ($43.3m). Multiples was advised by Khaitan & Co Bangalore.

JSA partners Sajai Singh and Gerald Manoharan, senior associate Prashant Kumar and associate Roy George acted for Milltec, also advising it on documentation for a Rs 35 crore loan from L&T Finance.

Khaitan & Co Bangalore partner Ganesh Prasad and principal associate Vineet Shingal and associate Sanjay Khan acted for Multiples.

Dua Associates Bangalore partner Srinivas BR acted for the selling shareholders.

13 June 2013
Litigation

tgbsb4bgSeth Dua & Associates advised Chinese telco ZTE Corporation in filing a winding up petition against Indian phone service provider Loop Mobile in the Bombay high court

13 June 2013
Corporate M&A

TyresAmarchand Delhi, Jones Day Cleveland and Sullivan Cromwell London acted on Gurgaon’s Apollo Tyres $2.5bn takeover of Ohio-based Cooper.

12 June 2013
Capital Markets

Amarchand Mangaldas is advising publishers of the Hindustan Times HT Media on its Rs 25 crore buyback of 2.05 per cent of its shares, which commenced on 3 June and will be open latest until 13 May 2014.

Amarchand Delhi partner Inder Mohan Singh, principal associate designate Kunal Mehra and senior associate Aayush Kapoor are acting for the media house.

They are advising HT Media on various transaction related issues from time to time and have drafted the public announcement, various notifications with the stock exchanges and the regulator, and documentation, according to a statement from the firm.

Kotak Mahindra Capital Company is the manager to the buyback. Amarchand had acted on the media company’s initial public offering (IPO) in 2005.

10 June 2013
Capital Markets

neggrid3Amarchand for Adani Ports, Khaitan & Co and Jones Day step up for the banks.

07 June 2013
Real estate

AntillaDMH for YES Bank founder family’s SPV, Kanga for sellers Citi and GSK.

05 June 2013
Corporate M&A

Desai Diwanji, Freshfields, Linklaters, TTA sold German machining company to India auto maker

04 June 2013
Capital Markets

bi3ghbgdAmarchand Mangaldas and Latham & Watkins advised London-listed mining giant Vedanta on largest ever bond offering by an Indian corporate.

30 May 2013
Corporate M&A

 waxw1cdiKhaitan & Co and Davis & Gilbert advised Japanese media giant Dentsu and its Indian subsidiary in picking up 80 per cent stake in Indian digital agency Webchutney. Webchutney was advised by SA Partners.

28 May 2013
Corporate M&A

wealth managementTrilegal advised British multinational bank Standard Chartered in buying out US investment bank Morgan Stanley’s Indian private wealth management unit. Morgan Stanley was advised by Amarchand Mangaldas.

23 May 2013
Capital Markets

IPPThree firms offload 81 million shares of real estate giant through the still novel institutional placement programme (IPP).

16 May 2013
Capital Markets

Amarchand Mangaldas, Desai & Diwanji, Luthra & Luthra and Linklaters are advising Fortis Healthcare on its institutional placement programme (IPP) that could raise up to $58m (Rs 320 crore).

Amarchand capital markets partner Yash Ashar in Mumbai acted for Fortis, while Luthra & Luthra Delhi-based capital markets partner Madhurima Mukherjee advised the lead managers Standard Chartered, JP Morgan and Religare.

Linklaters Singapore also advised the lead managers.

Desai & Diwanji partners Vishwang Desai and Srishti Ojha and associate Ishita Kashyap advised GIC Special Investments, in relation to the foreign currency convertible bonds (FCCBs).

The price under Chapter  VIII-A of SEBI’s ICDR regulations, will be no more than Rs 92 per share for up to around 35 million shares.

08 May 2013
Private equity / VC

Television investmentThree law firms structure preferential allotment of shares in BSE/NSE-listed company.

29 April 2013
Projects

Amarchand top, Luthra 2nd, as Khaitan & Co makes first league table appearance in years.

25 April 2013
Corporate M&A

Jet AirwaysSenior counsel Harish Salve got stuck into novel transactional law with ELP, Gagrats, Amarchand and DLA.

17 April 2013
Private equity / VC

TiresAZB & Simpsons reprised roles for KKR, with Amarchand and Davis Polk acting for the sellers.

17 April 2013
Private equity / VC

4t50qx0iObhan & Associates, which is run by Anand & Anand and AZB alumni, bags deal opposite ALMT.

16 April 2013
Private equity / VC

BBQBMR’s latest recruit, Amit Khansaheb, seals second deal at consultancy’s legal arm.

15 April 2013
Corporate M&A

PDS & Associates and DLA Piper advised Indian conglomerate PCM Group in its €36m (Rs 255 crore) acquisition of German international railway equipment conglomerate Rail One whose shareholders were advised by Hogan Lovells.

PDS & Associates Mumbai partner Sajid Mohamed, with DLA Piper Germany partner Benjamin Parameswaran and counsel Isaschar Nicolaysen and a raft of other DLA partners acted for the Siliguri-based Indian private company in acquiring the 118-year old German giant.

Hogan Lovells Berlin-based partner Jörg Meissner acted for Rail One shareholders. The €150m company with plants in Germany, Romania, Saudi Arabia, Spain and South Korea was acquired for €36m reported the Economic Times.

Linklaters partner Dr Eva Reudelhuber acted for the banks for the sellers.

11 April 2013
Corporate M&A

Q1 M&A: In terrible shape AZB & Partners did the greatest number of deals (13) in the first quarter of this year, according to the mergermarket M&A deal rankings.

11 April 2013
Corporate M&A

Fox Mandal advised US-based GAVIS Pharmaceuticals in its Rs 73.75 crore ($13.6m) brownfield investment in Bangalore-based pharma company Wintac, which was advised by J Sagar Associates (JSA).

04 April 2013
Deals in brief

DealsBig project M&A in the project space with Desai & Diwanji and Amarchand, while a project finance take-out scheme keeps Dhir busy.

28 March 2013
Private equity / VC

Vaish Associates and Crawford Bayley advised Delhi-based liquor firm Globus Spirits in raising Rs 70 crore ($13m) from Templeton Strategic Emerging Markets Fund IV LDC (TSEM) which was advised by BMR Legal's new hire from Desai & Diwanji.

26 March 2013
Deals in brief

image6 deals spanning private equity and high finance with Amarchand, AZB, Lexygen, Luthra, KSP, SNG…

22 March 2013
Deals in brief

Case, disposedDua Associates v Saikrishna in trademarks; PXV, Desai & Diwanji in PE.

20 March 2013
Private equity / VC

Rajani Associates advised brokerage house Motilal Oswal Private Equity (MOPE) which invested Rs 35 crore ($6.4m) in concrete blocks maker Magicrete Building Solutions, which was advised by Luthra & Luthra.

Rajani Associates founding partner Prem Rajani with partner Poorvi Sanjanwala, senior associate Karishma Jumani and associate Nishtha Mehta acted for MOPE which invested the amount through its funds India Business Excellence Fund IIA and India Business Excellence Fund II, according to a Rajani press release.

Luthra & Luthra Mumbai partner Bikash Jhawar with managing associate Amit Shetye and senior associate Rohan Shah acted for Magicrete, which was incorporated in 2008.

Magicrete is India’s largest maker of autoclaved aerated blocks, which are replacing red bricks in construction across India, according to the Economic Times and Deal Curry.

19 March 2013
Deals in brief

Recent deal & case highlights: The Bombay high court ordered the producer of Bollywood film Knockout to pay Rs 1.5 crore ($275,760) for copyright infringement of 20th Century Fox’s Hollywood movie Phonebooth, represented by Neolegal Associates. Plus Khaitan, Wadia Ghandy, Dhir & Dhir and more...

18 March 2013
Corporate M&A

J Sagar Associates (JSA) and DLA Piper advised multinational certification services firm Bureau Veritas (BV), which will buy Indian and middle-eastern industrial-testing firm Sievert.

Sievert was advised by AZB & Partners Bangalore partner Srinath Dasari, senior associate Nanditha Gopal, and associate Veena Ganesh.

JSA Mumbai partner Sandeep Mehta with associates Aarti Iyer and Adil Ladha, and DLA Piper Middle East regional managing partner Abdul Aziz Al-Yaqout, legal director Diwakar Agarwal and associate Zara Merali acted for BV which will likely complete the acquisition in May 2013, according to its press release.

Sievert reported revenue of $33m in 2012, according to BV, and is engaged in the testing, inspection and certification using non-destructive technique businesses in India and the Middle East.

15 March 2013
Capital Markets

Khaitan & Co and Herbert Smith Freehills advised the ministry of finance in the Rs 11,470 crore ($2.1bn) disinvestment of 9.5 per cent in India’s largest thermal power producer NTPC through an offer for sale.

11 March 2013
Deals in brief

We know what Desai & Diwanji, HSA Advocates, I&S Associates, AZB & Partners, Fox Mandal and KS Partners and others did this month.

06 March 2013
Capital Markets

Allen & Overy (A&O) acted for Bharti Airtel, which issued bonds for the first time ever in a heavily oversubscribed offer for $1bn. Axon Partners and Milbank Tweed Hadley & McCloy advised the underwriters.

04 March 2013
Private equity / VC

Tatva Legal advised micro-financier Grameen Financial Services (GFSPL), which received Rs 37.5 crore ($6.8m) of funding from US-based Creation Investments that was advised by J Sagar Associates (JSA).

Tatva Legal Bangalore senior associate Bhargava KS and manager Raghunath Ananthapur with assistance from partner Manav Nagaraj acted for Bangalore-headquartered GFSPL.

J Sagar Associates Delhi partner Lalit Kumar with associates Zain Pandit, John MA and Bharati Joshi acted for the social venture fund Creation Investments Capital Management.

Existing investors Microventures and Incofin also invested in this third round, according to the company's press release, raising a total of Rs 53.2 crore ($9.6m).

28 February 2013
Corporate M&A

Pharma

Breaking: Herbert Smith Freehills (HSF) and DSK Legal advised old-client Strides Arcolab in the $1.6bn+ sale of its injectables subsidiary Agila Specialties to Nasdaq-listed generic drugs-maker Mylan Inc.

22 February 2013
Capital Markets

Axon Partners advised the Delhi-based Jaypee group’s Jaiprakash Power Ventures (JPVL) in its Rs 950 crore ($175m) qualified institutional placement (QIP) of 12 per cent shares.

21 February 2013
Finance

Fox Mandal advised state-owned power financer Rural Electrification Corporation (REC) in extending Rs 8,775 crore ($1.6bn) to the NTPC and Bihar State Electricity Board (BSEB) joint venture Nabhinagar Super Thermal Power Project.

Fox Mandal Delhi banking and finance partner Rajesh Sehgal with senior associate Rahul Tyagi and associate Bhupendra Verma acted for REC. NTPC and BSEB were advised in-house.

21 February 2013
Private equity / VC

Majmudar & Partners and US law firm Kim Law Advisors advised San Francisco’s Burill & Company in its Rs 54 crore ($10m) primary and secondary investment in the Trilegal-advised Bangalore-based Strand Life Sciences, including buying out its lead investors WestBridge Capital and Ascent Capital. WestBridge was advised by AZB & Partners.

Majmudar Bangalore partner N Raja Sujith acted for Burill which is a diversified global financial services firm focussed on the life sciences sector.

Trilegal Bangalore partner Kosturi Ghosh acted for Strand in what Biospectrum Asia reported was a series B financing by Burill.

AZB & Partners Bangalore partner Srinath Dasari acted for WestBridge – a series A lead investor in Strand, which according to Startup Central had picked up a 20 per cent stake in the company for a reported $1.9m in 2002.

19 February 2013
Corporate M&A

AZB & Partners advised India-focused infrastructure fund Macquarie SBI in its Rs 206 crore ($40m) buy of 74 per cent equity in the GMR group’s road project GMR Jadcherla Expressways (GJEL). GMR was advised by Link Legal.

AZB & Partners Mumbai co-founding partner Bahram Vakil, with senior associate Qais Jamal, acted for Macquarie SBI, which expanded its road portfolio. Macquarie SBI had two years ago invested in GMR infrastructure’s airport subsidiary, as reported in Mint at the time.

Link Legal Delhi corporate partner Anand Srivastava and senior associate Milind Jha acted for the GMR group, which is operating the Farukhnagar-Jadcherla highway in Andhra Pradesh under a concession agreement signed with the National Highway Authority of India, according to a GMR press release.

14 February 2013
Corporate M&A

Khaitan & Co advised the British ITE group’s Cyprus-based subsidiary Airgate in its Rs 122 crore (£14m) buy of a 28.3 per cent stake in event management company Asian Business Exhibition and Conferences (ABEC), which was advised by AZB & Partners.

Khaitan & Co Delhi corporate partner Bharat Anand and direct tax executive director Daksha Baxi acted for Airgate, which bought the stake from Qatar’s investment bank Qinvest.

AZB & Partners Mumbai partner Shameek Chaudhuri acted for ABEC which runs 19 exhibitions across 11 vertical markets including construction, architecture, design, education, lifestyle, real estate, and oil & gas.

14 February 2013
Corporate M&A

IndusLaw’s Hyderabad office advised Kaizen Private Equity, which with German publishing giant Bertelsmann invested $4m (Rs 22 crore) in AuthorGen Technologies, that was advised by Dua Associates in Mumbai.

AuthorGen’s majority shareholder Educomp, which will become a minority shareholder after the sale, was represented by Amarchand Mangaldas Delhi partner Kalpataru Tripathy and senior associate Promode Murugavelu.

Dua Mumbai partner Vinod Joseph, senior associate Sugandha Kamal and associate Dhrupad Vaghani assisted AuthorGen and its founder Harman Singh.

IndusLaw Hyderabad partner Satya Sree Akella and associates Basava Rao and Kaustuv Banerjee acted for Kaizen.

AuthorGen is involved in providing online classes to teachers with its flagship product WizIQ, reported Mint.