New Delhi: Khaitan & Co, which represented the BC Jindal Group in proceedings relating to foreign remittances by its entities stated that the Enforcement Directorate (ED), following the adjudication proceedings under Section 16 of Foreign Exchange Management Act (FEMA), has concluded that no substantive contravention under the overseas investment regime was made out against the Group.
Khaitan & Co advised Gabriel India in relation to the private placement of unsecured, listed, non-convertible debentures aggregating up to INR 1,000 crores (Issue). The proceeds of the Issue were primarily utilised to part-finance the acquisition of a 28.99% stake in HL Mando Anand India. Citigroup Global Markets India and Hongkong and Shanghai Banking Corporation (HSBC) acted as arrangers to the Issue.
Khaitan & Co acted as legal counsel to the Brokers i.e., HSBC Securities and Capital Markets (India) Pvt Ltd and JM Financial Ltd in connection with the sale of 60,540,646 Equity Shares of Tenneco Clean Air India Ltd by Tenneco (Mauritius) Ltd and Tenneco Mauritius Holdings Ltd for a consideration of INR 2,078.50 crores.
Khaitan & Co advised Beams Fintech Fund on its investment in Business Nextgen Finance Pvt Ltd (BNF) as part of BNF’s INR 215 crores equity fundraise.
Khaitan & Co advised Advent International on its investment of INR 3,150 crores in Yatharth Hospital & Trauma Care Services Ltd, a listed company and a leading multi-speciality healthcare platform headquartered in NCR.
Khaitan & Co advised RBL Bank Ltd (“Issuer”) in relation to the establishment of its maiden USD 1,000,000,000 Medium Term Note Programme (the “MTN Programme”) and issuance of its debut USD 350 million 5.791 % fixed rate senior unsecured notes due 2031 (“Notes”) under the MTN Programme pursuant to Regulation S of the U.S. Securities Act, 1933 which are listed on India INX and NSE IX in the GIFT City.
Khaitan & Co acted as legal counsel to Reliance Industries Ltd on the issuance of unsecured, non-convertible debentures aggregating to INR 12,000 crores (“Debentures”) on a private placement basis (“Issue”). The Debentures carry a coupon rate of 7.47% per annum and are listed on both BSE Ltd and National Stock Exchange of India Ltd. The Issue received the highest long-term credit rating of “AAA/Stable” from CRISIL Ratings Ltd and CARE Ratings Ltd.
Khaitan & Co advised Torrent Gas Ltd on filing the UDRHP-I for its proposed IPO comprising of an offer of sale of up to 335,000,000 Equity Shares.
Khaitan & Co advised Amplifon Nederland B.V. (a wholly owned subsidiary of Amplifon S.p.A., an Italian company headquartered in Milan and listed on the Borsa Italiana) on the sale of Amplifon (India) Pvt Ltd, which operates audiology diagnostic centres and hearing care clinics in India, to Hearing Solutions Pvt Ltd, by way of a secondary sale of securities.
Khaitan & Co acted as Indian Legal Counsel to Augmont Enterprises Ltd on its IPO aggregating to INR 8,250.00 million, comprising of a fresh issue aggregating to INR 6,200.00 million and an offer for sale by certain selling shareholders aggregating to INR 2,050.00 million.
