Khaitan & Co advised India Resurgence Fund, on its acquisition of a significant majority stake in Fine Edge Engineering (housing the precision machined castings business of Ashok Iron Works Group).
About IndiaRF: India Resurgence Fund (IndiaRF), promoted by Piramal Finance and Bain Capital, currently investing from its second fund, primarily in control situations with a focus on providing effective capital solutions and driving operational transformation for businesses to reach their optimal potential. IndiaRF’s investor base includes global marquee institutional investors and prominent international and domestic family offices. It looks to invest in businesses with fundamentally strong growth prospects including in themes linked to consumption and infrastructure as well as harnessing India’s strong industrial and manufacturing potential.
About Ashok Iron Works: Founded in 1973, Ashok Iron Works Group is a leading Indian manufacturer of precision machined iron castings, catering to a diversified domestic and international customer base. Its manufacturing capabilities include engine blocks and cylinder heads across a wide range of specifications.
The deal was assisted by:
Corporate & Commercial: Aishwarya Nagpal (Partner), Ashutosh Sharma (Partner), Madhav Chandan (Senior Associate), Hardik Adlakha (Senior Associate), Poojita Saxena (Senior Associate) and Radhika Goenka (Senior Associate)
Real Estate: Sudheer Madamaiah (Partner), Kartik Shiv Kumar (Counsel) and Shambhavi Kashyap (Associate)
Competition / Antitrust: Anisha Chand (Partner), Soham Banerjee (Counsel) and Yatharth V Singh (Senior Associate)
Dispute Resolution: Sanjeev K Kapoor (Partner), Sneha Janakiraman (Partner), Saloni Gupta (Principal Associate) and Yashwant Gaggar (Senior Associate)
Employment, Labour & Benefits: Deepak Kumar (Partner) and Varsha Sankara Raman (Senior Associate);
Privacy and Data Protection: Supratim Chakraborty (Partner), Sumantra Bose (Partner) and Shramana Dwibedi (Principal Associate);
Intellectual Property: Nirupam Lodha (Partner and Malika Nandkeolyar (Principal Associate);
Projects & Project Finance: Atman Jwalant Desai (Partner) and Ayushi Chaudhary (Principal Associate)
The core team consisted of Kartick Maheshwari (Partner), Shantanu Gupta (Partner), Debottam Chattopadhyay (Principal Associate), Ifrazunnisa Khan (Principal Associate), Shruti Jaju (Senior Associate), Chaitanya Kishore Sunkara (Associate)