J Sagar Associates (JSA)
“I’m not nervous about it,” claims Jyoti Sagar about surrendering the last 7-odd per cent of equity he holds in the firm he started more than 20 years ago. “It is something I have known for 10 years, not something sudden.”
“Our model is well–known but people have carried the impression that it’s just a model but not for real. But people are trying to figure out what’s going on [now that I’m actually retiring].”
Tatva Legal advised micro-financier Grameen Financial Services (GFSPL), which received Rs 37.5 crore ($6.8m) of funding from US-based Creation Investments that was advised by J Sagar Associates (JSA).
Tatva Legal Bangalore senior associate Bhargava KS and manager Raghunath Ananthapur with assistance from partner Manav Nagaraj acted for Bangalore-headquartered GFSPL.
J Sagar Associates Delhi partner Lalit Kumar with associates Zain Pandit, John MA and Bharati Joshi acted for the social venture fund Creation Investments Capital Management.
Existing investors Microventures and Incofin also invested in this third round, according to the company's press release, raising a total of Rs 53.2 crore ($9.6m).
AZB & Partners advised oil and gas conglomerate Reliance Industries on the issuance of Rs 4,300 crore ($800m) of 5.875 per cent senior perpetual notes.
M&A and financings from the last three weeks starring Amarchand Mangaldas, AZB & Partners, J Sagar Associates (JSA), HSA Advocates, Khaitan & Co, Talwar Thakore & Associates, and Khaitan Sud & Partners.
Amarchand Mangaldas acts on a hoard of financings, while Luthra & Luthra sticks to the markets. Also in this deal round-up: JSA, Crawford, Tatva, AZB, Kochhar, Desai & Diwanji, Trilegal, Linklaters, Clifford Chance, Jones Day, Allen & Overy, Milbank, and other foreign firms..
J Sagar Associates (JSA) advised online classifieds business Info Edge in its private equity investment, and German glass maker Gerresheimer Glas GmbH in its acquisition, for the second-time this year.
Info Edge invested Rs 5 crore ($9,06,455) for a 25 per cent stake in portal Happily Unmarried, while Gerresheimer bought a 75 per cent stake in Delhi-based pharmaceutical plastics-maker Triveni Polymers which was advised by Desai & Diwanji and BMR Advisors. Happily Unmarried was advised in-house.
JSA Gurgaon partner Rohitashwa Prasad with senior associate Abhishek Shinde acted for Info Edge, as they had done on its Rs 35 crore investment in Canvera Digital Technologies in September.
Mumbai partners Vikram Raghani and Anish Mashruwala, with senior associates Anand Lakra and associates Bir Bahadur S Sachar and Delna Aga acted for Gerresheimer, as they had in May on its 70 per cent acquisition in Neutral Glass, before Mashruwala was made partner.
Desai & Diwanji Delhi partner Amit Khansaheb and BMR Advisors associate Rohit Berry acted for Triveni Polymers.
Info Edge, which owns job portal Naukri and real estate portal 99 acres, has bought optional fully convertible cumulative redeemable preference shares of Happily Unmarried, to expand its online business through this website, according to Medianama
Gerresheimer is looking to double its revenues in emerging markets, like India, from EUR 100 million in 2010 to EUR 200 million in 2013, and achieved emerging market revenues of about EUR 140 million last year, according to Business Standard.
Khaitan & Co, Amarchand Mangaldas, J Sagar Associates (JSA), Naik Naik & Co, ALMT Legal, PRA Law Offices and Vaish Associates on some of the week’s top deals.
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: German independent firm Hengeler Mueller has hired former J Sagar Associates (JSA) Gurgaon associate Abhijit Narayan for its India desk after the departure of Anish Mashruwala last year, who had joined JSA after eight years with the German firm.
Amarchand, Luthra, Khaitan, JSA, AZB, ARA, Rajani, HSA, KSP and Majmudar lead in the latest round-up of intercontinental multi-million dollar deals...
J Sagar Associates (JSA) has promoted two of its senior associates - Zerick Dastur and Ananya Kumar - to salaried partner.
Dastur is based in Mumbai and specialises in dispute resolution, while also Kumar focuses on dispute resolution from Delhi, according to Bar & Bench.
JSA’s single firm equity partnership is currently full-up at 20, though Aashit Shah was promoted as the third “equity partner elect” in June, alongside one salaried partner promotion.
The latest deals in one place: Khaitan for Kingfisher, Heidelberg, Hutchison Whampoa | AMSS for Mitsui, Schneider, Alstom, Siemens, RTL, IDFC | Siemens: AMSS-Jones Day & more.
Economic Times looks at law firm equities and reports: Khaitan & Co, the firm of 58 partners, 300 lawyers and 101 years, retains 15 to 25 per cent of equity with the family, while at Amarchand Mangaldas (20 equity partners, 50 salaried partners, 555 lawyers, 95 years old) around 75 per cent equity is with the Shroff family, with mother Bharti Shroff holding lifetime equity, and the veto vote resting with the family.
Jyoti Sagar at JSA and Rajiv Luthra at Luthra & Luthra are the only Sagar and Luthra, respectively, at their firms. Sagar with Mumbai senior partner Berjis Desai holds under 13 per cent of equity in the 20-strong equity partnership of the 21-year-old firm. And while family is barred from joining JSA, strict observance of the rule resulting in retainers quitting if wanting to marry each other, at Luthra the bar to family is only in terms of automatic entry.
Speculation for AZB apparently goes that founding partner Zia Mody, amongst the 17 equity partners at the firm, holds 90 per cent of the firm’s equity, but she denies the rumours [ET]
Former Trilegal senior associate Nitin Banerjee joined J Sagar Associates (JSA) Delhi’s energy practice as retained partner on 3 August, after five years spent with international oil and natural gas (ONG) major BG Group in India and the UK.
More deals than you can shake a stick at in our handy round-up of deals activity, with dozens of firms keeping busy.
Exclusive: J Sagar Associates (JSA) senior associate Srishti Ojha will join Desai & Diwanji as a partner in Mumbai, ramping up the capacity of specialist capital markets partners at the firm to two after Sumes Dewan joined in Delhi earlier this month.