IndusLaw

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.

IndusLaw added former K Law associate partner M Arun Kumar as a partner in its Hyderabad office, to bolster the firm's local real estate and infrastructure practice.

"Budget hotels chain FabHotels has raised $25 million in a Series B funding round led by Goldman Sachs, a top company executive said. Accel Partners, an existing investor in FabHotels, also participated in the round," reported Mint.

VPC GmbH has acquired 50% controlling stake in Encotec Energy (India) Pvt. Ltd for an approximate value of Rs. 14.43 crores (€2 million). Encotec offers operation management for power plants, supply of photovoltaic systems and trading of Chinese power plant spare parts.

IndusLaw has moved from its Noida office to Delhi, to work out of a space that can accommodate 80 people, with an area of around 9,000 sq ft.

“Media baron Subash Chandra-led Zee Entertainment Enterprises Ltd has decided to acquire an 80% stake in tech startup Margo Networks Pvt. Ltd for Rs 75 crore ($11.5 million),” reported VC Circle.

IndusLaw added former in-house counsel Karthik BM as partner in Bangalore and former K Law associate partner Deepak Chowdhury as partner in Hyderabad.

Shardul Amarchand Mangaldas Gurgaon partner Saurav Kumar has joined IndusLaw in Delhi as a partner, after having left the firm earlier this month.

IndusLaw has promoted Bangalore principal associates Pallavi Kanakagiri and Winnie Shekhar to partner, expanding its partnership to 19.

“BlackBuck, the B2B intercity logistics startup, has raised Series C funding of $70 million in a round led by Sands Capital. Among existing investors, Accel and Flipkart participated in this round, while Tiger Global and Apoletto did not.

IndusLaw has hired Sandeep Grover as a partner in litigation from Shardul Amarchand Mangaldas, where he was a principal associate in Delhi.

"Gurgaon-based developer Vatika Group on Friday secured Rs 700 crore funding from Altico Capital and has closed the first tranche of Rs 475 crore,” reported Mint.

News Corp-backed real estate portal PropTiger said on Tuesday that Mumbai-based Housing.com will merge with it in an all stock deal, and that it will receive $50 million in fresh funds from News Corp.’s REA Group Ltd and $5 million from SoftBank Group.

"Canadian Solar Inc. and China’s Unisun Energy Group bought 49 per cent stakes in solar projects being developed by Suzlon Energy,” reported Mint.

Khaitan & Co topped the list of 13 domestic law firms’ M&A mandates by value of deals done with $18.7bn worth of transactions, followed by AZB & Partners which topped the list of deals by value, with 43 transactions worth $15.4bn.

Legasis Partners advised deals and discounts website Nearbuy in raising Rs 15 crore ($2.25m) from non-banking financial company Blacksoil which was advised by IndusLaw.

"PayU Global, the digital payments provider owned by South Africa’s Naspers Group, will buy rival Citrus Pay for $130 million in an all-cash deal. PayU India will have more than 30 million customers post the acquisition of Citrus Pay. The company forecast it will process an estimated 150 million transactions, worth $4.2 billion, in 2016. The deal, once concluded, is expected to provide an attractive exit to Citrus Pay’s investors—Ascent Capital, Beenos and Sequoia Capital. PayU confirmed that the early investors will exit but declined to disclose details,” reported Mint.

Cyril Amarchand Mangaldas has topped the list of 13 domestic law firms’ M&A mandates by value of deals done with $6.2bn worth of transactions, followed by AZB & Partners and Vaish Associates, with stronger performances across the board than at the same time last year.

IndusLaw and Gibson Dunn advised Amplus Energy Solutions and I-Squared Capital on their acquisition of various SunEdison Special Purpose Vehicles (SPV) developing and operating around 7 MW rooftop solar power assets in India. SunEdison was advised in house.