Cyril Amarchand Mangaldas
The only partner in Cyril Amarchand Mangaldas’ Hyderabad office, Harita Rao, has given notice last month.
AZB & Partners and Shardul Amarchand Mangaldas (SAM) acted on the biggest and greatest number of deals respectively, according to mergermarket (MM), which captured far fewer deals than both Bloomberg and Thomson Reuters databases that we had reported last week, in part due to its different deal eligibility criteria (see below).
AZB & Partners was the busiest and fastest growing law firm in India this year according to year-end rankings released separately by Bloomberg and Thomson Reuters.
“Ola, operated by ANI Technologies Pvt. Ltd, has acquired online food delivery start-up Foodpanda India from its German parent Delivery Hero AG in an all-stock deal that will see the ride-hailing firm infuse $200m in Foodpanda India’s operations,” reported Mint.
Cyril Amarchand Mangaldas (CAM) Delhi partner Piyush Mishra, who had been hired in 2015 from Luthra & Luthra, has resigned the firm and is understood to in advanced talks to be joining AZB & Partners.
“Portea Medical has raised series C funding of $26 million led by new investors Sabre Partners and MEMG CDC. Portea’s existing investors Accel, International Finance Corporation (IFC), and Qualcomm Ventures also participated in this round. Avendus Capital provided financial advisory services to the latest funding round in Portea,” reported MediaNama.
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).
Cyril Amarchand Mangaldas has appointed another high-profile name to its internal “strategic advisory board”, with the part-time hire of former magic circle firm Allen & Overy’s senior partner David Morley.
“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.
“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.
Dutch development bank, FMO has raised close to Rs 200 crore (approximately $30.5 million) in debt through subscription of non-convertible debentures issued by renewable energy firm Azure Power India, as reported by Mint.
“Mid-market private equity firm Gaja Capital and global PE buyout specialist KKR have jointly led a Rs 980-crore investment in Avendus Capital, as the domestic financial services firm looks to scale up its asset management and newly-launched credit businesses,” reported the Economic Times.