Law firms

"The initial public offering of Central Depository Services Ltd (CDSL) received bids for 170 times the number of shares on sale, making it the most attractive IPO in nearly 12 years. The public offering of 24.83 million shares – excluding the anchor investors’ portion – got bids for nearly 52 million shares, stock-exchange data showed at the end of bidding on Wednesday. This translates into bids worth Rs 62,653 crore ($9.7 billion)," reported VC Circle.

K Law has hired Kumar Abhishek Singh from Mumbai-based chambers Venky’s Chambers as an partner dealing with shipping, oil and gas, international trade and the defense of economic crimes.

Majmudar & Partners has promoted Amrit Mehta to associate partner level in Mumbai.

The Prevention of Money Laundering appellate tribunal set aside penalties imposed on 15 banks, in 2013, by the Financial Intelligence Unit (FIU) for alleged failure to prevent money laundering as revealed in a purported expose by news media Cobrapost.

"OneAssist Consumer Solutions – which provides protection for credit cards, smartphones and payment cards in case of loss or theft – has raised Rs 118 crore ($18 million) in its series-C round of financing, as per documents filed with the Registrar of Companies. The round was led by existing investors Sequoia Capital India along with participation from Lightspeed Venture Partners and New York-based insurance provider Assurant. The round also marks the entry of new investor, UK-based Moonstone Investments," reported the Economic Times.

ASA Law Firm promoted disputes managing associates Abhishek Agrawal and Nitesh Jain to partner in its annual round of promotions.

Lakshmikumaran & Sridharan (LKS) made six new partners and one executive partner in its indirect tax, competition and international trade practices as part of its annual round of promotions.

Kirloskar Oil Engines Limited, manufacturers of diesel engines, gensets and agricultural pumpsets, have entered into an agreement to acquire a majority stake of 76% in La-Gajjar Machineries Pvt. Ltd., the maker of Varuna and Raindrop brands of electric pumps, as reported by Livemint.

Tata Steel on Friday sold its entire 2.9 per cent stake in Tata Motors to Tata Sons through a block deal on the BSE. A block deal of 8.35 crore shares was executed at an average price of Rs 452.80 a share. At that price, the deal size stood at Rs 3,780.88 crore. Last week, the Tata group had said to reduce cross-holdings, Tata Sons, the holding company of the $103-billion Tata group, will acquire Tata Steel’s 2.85 per cent share in Tata Motors on or after June 23. After the stake buy, Tata Sons’ holding in Tata Motors will increase to 31.06 per cent from the current 28.2 per cent.

Link Legal India Law Services has promoted Durgesh Singh to partner in Delhi, having joined the firm in 2015 as an associate partner from Dua Associates where he was a principal associate.

Veritas Legal has snapped up AZB & Partners Mumbai senior associate Zubin Mehta at a fixed income partner (a level equivalent to salaried partner at other firms).

“Zee Entertainment Enterprises picked up about 12.5 % stake in Bengaluru-based Tagos Design Innovations,” reported Inc42.

“The Pune Municipal Corporation (PMC) today raised Rs 200 crore by selling 10-year bonds, becoming the first civic body to tap money from this route in 14 years. Proceeds from the issue, raised at a coupon of 7.59 per cent and oversubscribed six times, will be used for a Rs 2,300-crore water project,” reported PTI.

Singh & Associates opened an office in Gurgaon, as its third in the national capital region.

A lawyer consulting full time with a public sector undertaking (PSU), who had been unsuccessfully trying to get enrolled with the Gujarat bar council (BCG) since 2012, is not allowed to do so and therefore practically not an advocate, ruled the Gujarat high court according to the Times of India.

Intertape, the Canadian packaging company with executive headquarters in Sarasota County, announced Thursday it is making a “greenfield” investment in Capstone Polyweave Private Limited, which plans to build a $30 million manufacturing facility in Karoli, India. Capstone’s shareholders also own and operate Delhi-based Airtrax Polymers Private Limited, which manufactures and sells woven products that are used in the building and construction industry. Airtrax posted $11 million in revenues for the year ended March 31.