Khaitan & Co advised Saregama India Ltd on its strategic investment in Bhansali Productions, founded by Sanjay Leela Bhansali, through the subscription to compulsory convertible preference shares for a consideration of INR 325 crores, including advice on the terms of conversion. As part of the transaction, the former will acquire ownership of all music rights created and produced by the latter.
The Firm advised Saregama India Ltd on structuring, term sheet, diligence, negotiations and finalisation of documents (including investment agreement, shareholders agreement, music rights agreements and other ancillary documents.
The deal was assisted by:
Corporate & Commercial: Akriti Sirsalewala (Senior Associate), Alankrita Singh (Associate), Pulkit Khare (Associate) and Tirthesh Jain (Associate)
Capital Markets: Sudhir Bassi (Executive Director)
The core team consisted of Haigreve Khaitan (Senior Partner), Ashraya Rao (Partner), Vidur Sinha (Partner), Ishan Johri (Partner), Sheldon Dsouza (Principal Associate), Vaishanshi Bhardwaj (Principal Associate), Utsav Mitra (Senior Associate), Hansaja Pandya (Senior Associate) and Pavitra Khaitan (Associate)