Private equity / VC

Link Legal advised GMR whose road development arm GMR Highways sold 74 per cent stake in its special purpose vehicle GMR Ulundurpet Expressways to IDFC's India Infrastructure Fund for Rs 222 crore ($35m). IDFC was advised by Udwadia Udeshi & Argus Partners.

PXV Law Partners Mumbai partner Deepto Roy acted for long-time client Glocal Hospitals in its Rs 25 crore ($4m) investment by SIDBI Venture Capital. Kochhar & Co Gurgaon-based partner Anjuli Sivaramakrishnan acted for SIDBI.

Universal Legal advised Andhra Pradesh-based Rainbow Hospitals, in which the UK-government owned CDC and private equity investor Abraaj Group invested Rs 100 crore ($16m). Wadia Ghandy advised the CDC and Abraaj Group.

Universal Legal Chennai-based partner Kavitha Vijay and senior associate Sameena Chatrapathy acted for the 14-year old paediatric and maternity healthcare business in AP, which currently has 450 beds but will expand after this business.

Wadia Ghandy Bangalore partner Ankit Majumdar and senior associate Anubhav Agarwal acted for the investors. This was CDC’s first direct equity investment and it intends to invest $1bn in India in the financial services sector, healthcare, renewable energy, and consumer-related businesses, according to the ET.

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.

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.

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.

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.

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