Deals round-up of more than a dozen recent instructions.
Private Equity
Mahendran, IVF pest investment under Bharucha, DSK
Mahendran Holdings unit Goodlife bought back India’s second-largest pest controller ISS Hicare with help from India Value Fund IV (IVF) [Money Life]
IVF and Mr Mahendran: DSK Legal Mumbai partner Narendra Dingankar, senior manager Rishabh G Mastaram, senior associates Anupam Shukla, Kartikeya Prakash and Mayank Mehta, and associate Arpita Anand
ISS Hicare: Bharucha & Partners partner Alka Bharucha, senior associate Siddharth Manchanda, and associates Harshil Dalal and Mazahir Bootwala
OrbiMed buys into Faridabad AIMS through Alpha Partners, Indus
Healthcare-focused private equity fund OrbiMed invested in Faridabad-based hospital Asian Institute of Medical Sciences (AIMS), a part of Blue Sapphire Healthcare [VC Circle]
Blue Sapphire: Alpha Partners partner Akshat Pande and associates Swati Kaul and Anjali Yadav
Orbimed: Indus Law
Japan ARKRAY Gujarat in-vitro investment with Wadia G, Vaish
Japanese medical technology major ARKRAY Group is buying the In-Vitro Diagnostic (IVD) business of Gujarat-based Span Diagnostics for Rs 80 crore in a slump sale [VC Circle]
Span: Wadia Ghandy former partner Anand Shah and current partner Xerxes Antia with senior associate Nikhil Pai, former associate Ishan Handa and current associate Tulsi Mehta
ARKRAY: Vaish Associates partner Hitender Mehta, principal associate Akshay Saxena and senior associates Pratyush Khurana and Pavit Singh Katoch
GVK buys US clinical research co via Desai Diwanji, Foley Lardner
Small-molecule Contract Research Organisation (CRO) GVK Biosciences will acquire US-based pre-clinical CRO Aragen Biosciences [ET]
GVK: Desai & Diwanji partner Raghav Mathur and associate Nakul Batra
Aragen: Foley & Lardner partner Carrie Long
Oman fun buys Rs 50 crores of National Commodity & Derivates Shares guided by ELP
Oman India Joint Investment Fund purchased equity shares of National Commodity & Derivatives Exchange from Jaypee Capital Services for Rs 49.5 crore [VC Circle]
Oman India: Economic Laws Practice partner Darshan Upadhyay and senior associate Bhavin Gada
NCDEX: No external advisors
Valley mobile payments co Boku buys Spunk Media: Majmudar & Trilegal advise
San Francisco-based mobile payments company Boku will buy Mumbai-based Spunk Media which owns and operates the mobile billing aggregator business of Qubecell [Reuters]
Boku: Majmudar & Partners managing partner Akil Hirani and associate partner Christopher Krishnamoorthy
Spunk Media: Trilegal partner Amit Tambe
Capital Markets
Luthra wins Rs 4,600 crore public debenture offer for HUDCO
HUDCO made two tranches of public offerings of tax-free, secured, non-convertible debentures worth Rs 4,600 crore. Axis Capital, Edelweiss Financial Services, HDFC Bank, Karvy Investor Services and RR Investors Capital Services were the lead managers to the issue [Money Control]
HUDCO and lead managers: Luthra & Luthra partner Manan Lahoty and associates Abhiroop Lahiri and Theresa Thomas
Khaitan Sudhir Bassi scores Cairn $930m buy-back for Morgan Stanley
Cairn India bought back up to 14.98% of its equity share capital for $930m from open market through stock exchanges. Morgan Stanley was lead manager. This is the biggest buyback offer ever made by an Indian company.
Morgan Stanley: Khaitan & Co executive director Sudhir Bassi and partner Arindam Ghosh
Cairn India: Probably no external legal advisors, according to two independent sources Correction: Amarchand Mangaldas Delhi partners Prashant Gupta and Gunjan Shah, with associate Shruti Kanodia. Standard Chartered, one of the managers, was advised by Luthra & Luthra Mumbai capital markets partner Manan Lahoty and managing associate Vishal Yaduvanshi.
Jagran Prakashan Rs 47.5 crore buy-back instructs Luthra
Jagran Prakashan bought back Rs 47.5 crore worth of its equity shares on the Bombay Stock Exchange. ICICI Securities was lead manager to the issue
Jagran and ICICI Securities: Luthra & Luthra partner Manan Lahoty, managing associate Vishal Yaduvanshi and associates Koushik K Prasad, Aashima Johur and Rohan Sahai
Shriram City Rs 1.5bn public debenture offers drafts Luthra
Shriram City Union Finance made a public offering of non-convertible debentures worth Rs 1,500 million. ICICI Securities was the lead manager to the issue
Shriram and ICICI: Luthra & Luthra partner Manan Lahoty, managing associate Geeta Dhania, senior associate Manshoor Nazki and associates Abhiroop Lahiri and Aditi Venkatasubramanian
Dhanlaxmi raises $10.8m QIPs, instructs Luthra
Dhanlaxmi Bank raised $10.8m through Qualified Institutional Placement, allotting 17.5 million equity shares listed on BSE and the National Stock Exchange [VC Circle]
Dhanlaxmi: Luthra & Luthra partner Manan Lahoty, senior associate Ravi Dubey and associates Aditi Venkatasubramanian and Faiza Rahman
Khaitan nabs India Infoline $80.3m IPO
India Infoline’s made an Initial Public Offer of $80.83m of Secured Redeemable Non-Convertible Debentures
IIFC: Khaitan & Co executive director Sudhir Bassi and partner Vibhava Sawant
Project finance / infrastructure
Khaitan Sud assists L&T on Rs 100 crore loan extension for Lalitpur power plant
L&T Infra Finance agreed to extend a Rs 100 crore term loan to BEPL for downstream capital expenditure and for sponsoring the Lalitpur Power Generation Company
L&T: Khaitan Sud & Partners principal associate Sujeet Das and associates Henna Vadhera and Sudhanshu Goil
BEPL: in-house finance and secretarial teams
Uniquest buys road building SPV with Luthra, Link
Uniquest Infra Ventures bought a majority stake in a road Special Purpose Vehicle of SEW infrastructure and Navayuga [BS]
Uniquest: Luthra & Luthra partner Deepak Joyce, managing associate Manish Gupta and associate Adhiti Gupta
Navayuga: Link Legal partner Anand Srivastava
Clasis gets active in Philippines airport project with local firm
The PPP Centre of Philippines is constructing a new world-class international passenger terminal at Mactan Cebu International Airport in the Philippines
PPP centre of Philippines: Clasis Law partner Ishtiaq Ali and senior associate Sharad Joshi and Manila law firm PJS Law
Banking
Majmudar, TLT extend United Phosphorus overdrafts
Bank of Baroda’s London branch rescheduled working capital facilities extended to United Phosphorus Limited (UK) and the Italian, French and Dutch entities of Cerexagri, against corporate guarantees provided by Indian parent company UPL Limited.
Bank of Baroda: Majmudar & Partners partner Prashanth Sabeshan and London-based TLT Solicitors partner Richard McBride and Claire Gibson on English law
Regulatory
JSA wins before NGT
The National Green Tribunal on 28 November dismissed the challenge to Lenzing Modi Fibers India’s environment clearance and consent to establish granted for its viscose fibre manufacturing plant, on the ground that mere construction of a compound wall with a requisite NOC for levelling is a permissible activity as it is to secure the land from transgression or damage [Order]
Lenzing: J Sagar Associates partners Amar Gupta, Apoorva Misra & Mayank Mishra, and Associates Vandana Anand and Ritika Arora.
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