IndusLaw

IndusLaw advised the founders of Redbus and its early investors Helion, Inventus and Seed Fund, in selling out the online bus-ticketing service for $100m (Rs 597 crore) to the Ibibo Group, which is a joint venture of South African Media giant Naspers and Chinese internet company Tencent.

Amarchand Mumbai partners Vandana Shroff and Ajay Joseph acted for the Ibibo Group, which owns online travel aggregators Goibibo and TravelBoutiqueOnline.

IndusLaw Bangalore partner Suneeth Katarki with associates Basava Rao, Rashi Saraf, and Sherill Pal acted for the Bangalore-based Pilani Softlabs’ founders Phanindra Sama and Charan Padmaraju and the other investors in the buy-out of the seven-year old company.

In 2012 RedBus earned Rs 350 crore selling tickets over Rs 600 crore on more than 10,000 bus routes, according to Mint.

Pramod Rao, the founder partner of IndusLaw’s Mumbai office and former general counsel (GC) of ICICI Bank, will join Citibank India as its GC in July.

IndusLaw’s Hyderabad office advised Kaizen Private Equity, which with German publishing giant Bertelsmann invested $4m (Rs 22 crore) in AuthorGen Technologies, that was advised by Dua Associates in Mumbai.

AuthorGen’s majority shareholder Educomp, which will become a minority shareholder after the sale, was represented by Amarchand Mangaldas Delhi partner Kalpataru Tripathy and senior associate Promode Murugavelu.

Dua Mumbai partner Vinod Joseph, senior associate Sugandha Kamal and associate Dhrupad Vaghani assisted AuthorGen and its founder Harman Singh.

IndusLaw Hyderabad partner Satya Sree Akella and associates Basava Rao and Kaustuv Banerjee acted for Kaizen.

AuthorGen is involved in providing online classes to teachers with its flagship product WizIQ, reported Mint.

Alliance Legal co-founding partner and J Sagar Associates (JSA) alumni Priyanka Roy has joined IndusLaw as its second Mumbai equity partner to bolster former ICICI general counsel (GC) Pramod Rao who set up the office in April 2012.

Supporting cast: Yash Raj Films, Gruner+Jahr, MakeMytrip, DLF, Tata, Fidelity, CESC, IFC, Bharat Petroleum, Indian Oil, Wells Fargo, Newscorp, CEAT, Dhunseri, Everstone, Mayfield, Linde, GTL, Sintex, Mahindra & Mahindra, DISA. Starring: Amarchand Mangaldas, JSA, AZB, Indus, HSA, Naik, Khaitan & Co and international talent.

Exclusive: Desai & Diwanji advised India’s largest entertainment ticketing website BookMyShow in the Rs 100 crore ($18m) capital and equity infusion to be made in it by global internet-business venture capitalist (VC) Accel Partners, advised by IndusLaw.

Corporate M&As continued to buttress law firm activity, while one NUJS graduate sweated it out with a high profile Delhi high court case. Khaitan & Co also kept busy in finance and capital markets, and projects and private equity proved solid.

Exclusive: IndusLaw has promoted Hyderabad principal associate Satya Sree Akella to salaried partner effective 1 April.

Exclusive in today’s Mint: Pramod Rao, ICICI Bank’s general counsel (GC) of more than seven years, will join young law firm IndusLaw as an equity partner to set up its Mumbai office.

Legally India’s round-up of the latest 15 cases and deals and their legal advisers, including Luthra’s defence of Yahoo! India in two high-profile cases, and a massive boom in debt capital markets – but only one equity cap markets deal for AZB.

Best of deals, including three exclusive venture capital/private equity deals featuring DSK, Sand Hill, Induslaw, Khaitan and Nishith Desai, as well as a banking, M&A and projects wrap.

Induslaw clients Helion Venture Partners, Canaan Partners and Sequoia Capital have bought an 18.1 per cent stake in legal process outsourcing (LPO) company UnitedLex for $16m (Rs 73 crore) by acquiring co-founder Ajay Agrawal’s share, who had drafted in Amarchand Mangaldas.

Starting out as Indus in Bangalore and G&D in Delhi and now with four offices, Induslaw as it stands today has come of age with a strictly democratic partnership that has its eye on creating a truly national firm, if it can find the right fit.

IndusLaw has advised Bangalore-based IT consulting company ASM Technologies on its complete buy-out of US company Abacus Business Solutions which had drafted in Californian firm Pacific Law Group in an all-cash purchase.

AZB & Partners was the busiest private equity legal advisor of 2010 ahead of ALMT Legal and Indus Law tied in second place followed by DSK Legal and Tatva Legal. Amarchand Mangaldas and Trilegal came in fourth and fifth places respectively, according to a volume-based league table by data provider Venture Intelligence.

Exclusive: PXV Law Partners and Indus Law Advocates have advised on Rs 15 crore venture capital investment in a start up Glocal Hospital by private equity firms Sequoia Capital and Elevar Equity to develop health care facilities in rural West Bengal.

AZB & Partners, Indus Law, ALMT Legal and Trilegal have topped data provider Venture Intelligence’s private equity league tables for the first nine months of this year.

Amarchand Mangaldas Bangalore and Indus Law Advocates advised on private equity funds Sandstone Capital and Sequoia Capital’s Rs 200 crore minority stake investment in India’s largest domestic handset maker Micromax.

Trilegal is awaiting a response from the Bar Council of India (BCI) on whether the firm is allowed to convert to a limited liability partnership (LLP) under the Advocates Act, as start-up Vidhii Partners vowed to convert to LLP in two months and Luthra & Luthra, Nishith Desai Associates, IndusLaw and at least eight other firms have reserved respective LLP names.

Induslaw has hired Nishith Desai Associates (NDA) partner, Bangalore head and fund investment co-head Kartik Ganapathy as an equity partner, while NDA partner Vaibhav Parikh returned from the firm's Silicon Valley office.