“The Rs 1,001 crore initial public offer has received good response from investors, with the issue getting oversubscribed 2.28 times. It was the first IPO by a power exchange in the country.”, reported Moneycontrol. IEX is India’s premier power trading platform and provides an automated platform for physical delivery of electricity, enables efficient price discovery and offers participants the opportunity to trade in a variety of energy products. The issue opened for subscription during October 9-11, with a price band of Rs 1,645-1,650 per share and debuted on the bourses on October 23rd.

KKR India Financial Services, Indian non-banking financial company of US private equity firm KKR & Co, has extended debt of Rs 125 crore (USD 19 million) through a three-year credit facility to Accord Builders, a part of the Mumbai-based Omkar Realtors group, as reported by The Economic Times & Mint. The funds are to be utilised for construction and development of two residential projects in Mumbai.

India Infrastructure Finance Company Limited (IIFCL) has said to have provided a term loan of Rs. 156 crore (USD 23.8 million) to Gurugram based Mihit Solar Power under its Takeout Finance Scheme, for substituting the outstanding principal amount of the loan sanctioned by L&T Infrastructure Finance, for the purpose of developing and commissioning a 74 MW Solar Power Project in Mansa District, Punjab.

Subhash Chandra-owned, Essel Finance Management, the financial services arm of the Essel Group has acquired the controlling stake of insurance policy aggregator Bimadirect, operated by Coretree Insurance Brokers (India) for an estimated amount of Rs. 25-30 crores (approximately $3.8 - $4.6 million), as reported by The Economic Times & VC Circle. The deal will see Essel Finance paying 75% of the deal amount upfront, and the rest over a period of two years.

“The Rs 1,157-crore initial public offer (IPO) of Godrej Agrovet (GAVL) was subscribed 51.84 times times on the final day of bidding process”, reported The Economic Times. GAVL is a diversified, research & development focused agri-business company with operations across five business verticals of animal feed, crop protection, oil palm, dairy, and poultry and processed foods. The initial public offering opened for subscription on October 4th and closed on October 6th, with a price band of Rs 450-460 per share.

On Saturday, 11 November, the Indian National Bar Association (INBA) had held the “Bar Leadership Summit on Reforms in the Indian Legal Sector” conference to discuss the future and liberalisation of the legal profession, and to bring together leaders of the bar and the government.

UK firm Penningtons Manches LLP India group co-head Ajit Mishra, has joined London-based Rosenblatt Solicitors as the head of its India group.

T&T Law founder Rohit Tandon lost his appeal for bail in the Supreme Court on Friday, and continues to be in jail for almost a year now for alleged money laundering.

Torrent Pharma, the flagship company of the Torrent Group, have announced their acquisition of the domestic formulations business of Unichem Laboratories, one of India's oldest and largest pharma companies, for about Rs 3,600 crores (around $556m), through a business transfer agreement, as reported by The Economic Times and Business Standard.

Mumbai-based online lending startup Kissht, operated by OnEMi Technology Solutions has raised Rs 67 crore (USD 10 million) led by China’s Fosun International along with existing investors, venture capital firm Endiya Partners and early-stage investor Ventureast, as reported by VC Circle.

Former Nexus Venture Partners vice president legal Harshita Srivastava has joined Nishith Desai Associates (NDA) in Mumbai to head its venture capital (VC) practice.

"The board of Tata Chemicals Ltd has approved the sale of its non-bulk phosphatic business to IRC Agrochemicals for Rs 375 crore," reported Mint.

Luthra & Luthra senior partner Mohit Saraf, who was one of the Indian law firm promoters requesting the commerce ministry in liberalisation negotiations to prevent foreign firms from hiring Indian lawyers, said in an interview with Asia Legal Business that if foreign firms open in India, they would only be with a “very small office”.

“State-owned Andhra Bank has dragged Housing Development & Infrastructure to the National Company Law Tribunal (NCLT) in an insolvency petition because the Mumbai-based real estate developer failed to pay back Rs 55 crore invested by the bank in the company's non-convertible debentures (NCDs),” reported The Economic Times

NCR-based IP boutique firm, Sujata Chaudhri IP Attorneys, has promoted senior associate VC Mathews to associate partner.">

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