Amarchand Bom-Del-Chennai advise Warburg on record $200m jewelry investment oppos AZB

All that glitters does not bill (but it helps)

Amarchand Mangaldas together with Al Tamimi advised Warburg Pincus, which invested around Rs 1,200 crore for a 10 per cent stake in Kalyan Jewellers, advised by AZB & Partners.

Amarchand Mumbai managing partner Cyril Shroff, and partners Vandana Shroff and Vandana Sekhri led for Warburg, which subscribed to compulsorily convertible preference shares and purchase of equity shares from Kalyan’s promoters. The team also included Delhi partner Ranjan Negi on intellectual property issues, Chennai partner Dorothy Thomas on the real estate, and Mumbai partner Nisha Kaur Uberoi on competition law.

AZB & Partners fielded Mumbai partner Shuva Mandal for Kalyan and its promoters, alongside Axis Capital as financial advisors.

Warburg also used KPMG as financial and tax advisor, with Al Tamimi & Co UAE partner Gary Watts and senior associate Richard Catling as Middle Eastern law-related legal advisers.

The deal closed on 17 October and is one of the largest investments ever into the jewellery manufacturing segment, reported the Business Standard.

Photo by Jainamishra

Amarchand Mangaldas AZB & Partners

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Efficient 9 years ago interesting top rated controversial

Love the fact that Shuva is the only partner on this deal from as compared to 6 (including a managing partner and senior partner) from AMSS. While he was obviously supported by a team of hardworking and capable associates, it just shows the faith that Zia has in her partners to handle things entirely themselves and the fact that AZB doesn't believe in having too many cooks in the kitchen. Plus, it clearly demonstrates how good Shuva is. This is why despite being the biggest (and baddest) firm of all, Amarchand will never surpass AZB in terms of quality.

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Guest 9 years ago

Interesting to see that Delhi and Bombay partners are working on the same deal. Doesn't Bombay have its own IPR partner?

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QueZB 9 years ago interesting

@Effiicient clearly hasn't realized the difference between the role of Investors' counsel and Seller's/Promoter Counsel

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Señor Pepe 9 years ago

Neither have any of the upvoters to that comment!

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QueZB 9 years ago

@Señor Pepe - What next? Praise Shuva for his dare devilry for not doing a full due diligence on the Buyer?

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Efficient 9 years ago

Okay. I get the sarcastic remarks and I'll admit that a seller/company/promoter counsel may not need as many hands on deck as the investor or buyer counsel. That being said, when taking time out from your (in much need of improvement) stand up routine(s), both of you should take a look at other deals that AZB has been on where they've represented the buyer or investor. Very rarely will there be more than 1 partner, at best 2 and sometimes an additional competition partner if required. Usually, AZB doesn't staff too many (senior) people on one deal and that's what I was trying to point out. With the exception of competition law, most partners usually advise on all parts of a deal, as opposed to a Khaitan or Amarchand which pulls in partners from specialized fields on every transaction.

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Señor Pepe 9 years ago

Since you think our standup routine requires a lot of improvement, I think my time is best spent on this. If for some inexplicable reason I start doing a historical analysis of partner staffing across law firms, I might just die of boredom.

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Efficient 9 years ago

Haha, fair enough. Good one.

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A 81-word comment posted 9 years ago was not published. [Appeal decision]

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Amarchand Bom-Del-Chennai advise Warburg on record $200m jewelry investment oppos AZB