Luthra & Luthra Mumbai acted for private equity house Tano Capital, which invested Rs 80 crore ($13.4m) in agri-logistics company Shree Shubham Logistics, a subsidiary of Kalpataru Power Transmission, which was advised by Bharucha & Partners.

Luthra Mumbai partner Deepak THM and associates Anshuman Mozumdar and Vidushi Gupta led on the deal, assisted by real estate partner Amaresh Singh and managing associate Sachit Mathur on due diligence, and managing associate Vaibhav Kakkar on the regulatory aspects.

Bharucha co-founder Alka Bharucha and associate Swathi Girimaji acted for the Shree Shubham promoters from Mumbai.

The funds will be used to expand Shubham’s warehousing, transportation and other services related to agriculture in Maharashtra, Rajasthan, Madhya Pradesh, Andhra Pradesh and Karnataka, reported the Hindu.

Deepak THM said that the deal was challenging for several reasons. “The target was involved in multiple lines of business - each of which had regulatory issues, [second], the target had properties in rural areas spread across several states and the local law and practice was different in each location, [and third,] the agri-warehousing sector is governed by various Central and State legislations which are relatively new and untested.

“The regulatory and real estate team were involved in advising the client on the most efficient mechanism to achieve the commercial objective whilst minimising the regulatory risks.”