AZB & Partners
“Airtel will sell a 15% stake in the DTH business to Warburg Pincus entity Lion Meadow Investment for Rs 1,623.76 crore, the telecom firm said in a stock exchange filing on Tuesday. Another group company that holds 5% of Bharti Telemedia will offer its entire stake to the PE firm. The deal values Bharti Telemedia at close to Rs 11,300 crore. This may make it India’s second largest DTH player by valuation, according to industry experts,” reported The Economic Times.
KKR India Asset Finance, the realty-focused investment unit of global PE Firm KKR & Co. have invested INR 500 crores (USD 82 million) in a township project of the Bangalore-based Bhartiya City Developers Group by extending a term loan facility, as reported by Mint.
In the latest bi-annual rankings compiled by consultancy RSG India, AZB & Partners has topped the table ahead of Shardul Amarchand Mangaldas (SAM) and Cyril Amarchand Mangaldas (CAM), which had topped the table in 2015 when still united in one firm as Amarchand Mangaldas before their break-up (see full table below).
Vodafone India, Vodafone Mobile Services and Idea Cellular have announced their proposal separately to sell their standalone telecom tower businesses to ATC Telecom Infrastructure, a majority-owned subsidiary of American Tower Corporation for about INR 7,850 crores ($1.2 billion), as reported by Mint. The transaction is subject to customary closing conditions and receipt of necessary regulatory approvals.
Shardul Amarchand Mangaldas advised and acted as the legal counsel for Axis Bank and was led by the private equity group of their general corporate practice team for all the legal aspects of the transaction. The transaction team was led by executive chairman Shardul Shroff, Mumbai-based regional practice head Raghubir Menon (M&A and PE, General Corporate), partners Abhishek Guha, Yogesh Chande, and senior associates Ankit Kejriwal and Anwesha Haldar, associates Kanwardeep Kapany, Gaurav Malhotra and Keegan Pavrey.
"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.
“Kotak Realty Fund, a part of Kotak Investment Advisors, has invested Rs. 240 crore in an under-construction shopping mall in Chennai and Rs. 80 crore in an ongoing office project in Mumbai from its $250 million offshore fund,” reported Livemint. Both the deals have been funded through debt financing by the issue of listed, secured, non-convertible, redeemable debentures by C&J Corporate Park, a group entity of National India Bullion Refinery to Kotak Realty.
Kochhar & Co Chennai-based partner Hufriz Wadia has joined AZB & Partners as counsel in Mumbai on 16 October.
Indiabulls Ventures Ltd, the financial services arm of the Indiabulls Group, approved raising Rs 2,000 crore (USD 305 million) either through rights issue of shares, to meet the funding requirements and to support future growth of consumer finance and assets reconstruction businesses carried out by the Company, through its subsidiary companies, as reported by The Economic Times and Livemint
Chemicals company BASF India has sold its leather chemicals business to Stahl India Private Limited for Rs. 197.63 crores (USD 30.35 million) through a slump sale, as reported by Livemint and Business Standard.
K Law partner Abhishek Shinde has joined AZB & Partners as a corporate partner in Delhi, reported Bar & Bench.
AZB & Partners partner Gautam Saha and partner Pallavi Meena, with associates Pragya Sood and Ayan Das have acted for Overseas Private Investment Corporation (OPIC).
Massive Vodafone-IDEA merger continues causing quakes in league tables half a year after having been announced...
Ratnadeep Roychowdhury, who had been promoted to partner at AZB & Partners Mumbai in 2015 after joining from erstwhile Amarchand Mangaldas in 2011, is set to join Actis Capital in-house in a senior role - possibly India general counsel (GC) - reported Bar & Bench.
"Budget-hotel tech company Treebo has raised Series C funding of $34 million led by Hong-Kong based investment firms Ward Ferry Management and Karst Peak Capital. Existing investors SAIF Partners, Bertelsmann India Investments and Matrix Partners also participated in the round," reported Your Story.
Realty Major DLF Limited has entered into an agreement to sell a stake of 33.34% in its rental arm, DLF Cyber City Developers Limited (DCCDL) to Reco Diamond Private Limited, an affiliate of the Singapore sovereign wealth fund, GIC Group, in a multi-stage transaction for an aggregate value of US$ 1.9 billion, as reported by VCCircle and Business Standard.