Khaitan & Co advised Jupiter International Ltd (“Jupiter”) and its promoters in relation to a second investment of approximately INR 500 Crores in Jupiter led by ValueQuest SCALE Fund (“ValueQuest”) and certain other investors (collectively, “Investors”), for a minority stake. This is in furtherance to an initial investment of INR 300 Crores in Jupiter last year by ValueQuest.
The Firm was involved in the following:
Khaitan & Co advised Kandhari Global Beverages Pvt Ltd on the acquisition of Wave Beverages Pvt Ltd for a deal value of approx. INR 1,000 crores. Wave Beverages is the licensed bottler of Coca-Cola for certain territories in Punjab and Haryana.
The Firm role included assisting Kandhari Global Beverages Pvt Ltd on the structuring of the acquisition from regulatory and tax perspective, conducting legal due diligence on Wave Beverages Pvt Ltd, assisting with the drafting and negotiation of the transaction documents and the closing of the transaction.
Khaitan & Co advised the Wilmar Group on its proposed acquisition of up to 20% stake in AWL Agri Business, held by Adani Group for approximately INR 71 billion.
Khaitan & Co advised the Book Running Lead Manager, JM Financials Ltd on the QIP of Navin Fluorine International Ltd aggregating up to INR 750 crores.
Khaitan & Co Advised Multiples Private Equity Fund in relation to acquisition of control and stake of ~32% in VIP Industries Ltd ("Target Company") for an aggregate consideration of c. INR 1763 crores by Multiples Consortium. The Acquirer would be acquiring shares and control of the Target Company through (a) secondary acquisitions; (b) shareholder's arrangement; and (c) mandatory tender offer.
Khaitan & Co advised Sovos Compliance Ltd on acquisition of IRIS Business Services Limited’s GST Application Service Provider business through a carve-out of the business into IRIS Logix Solutions Pvt Ltd (a subsidiary of IRIS Business Services Ltd) and the subsequent acquisition of IRIS Logix Solutions Pvt Ltd. Deal closing is subject to fulfilment of Closing conditions.
The Firm advised Sovos Compliance Limited on the due diligence, structure of the transaction, drafting, negotiating, and finalisation of transaction documents, and assistance with closing.
Khaitan & Co acted as legal counsel to the Book Running Lead Managers i.e., Kotak Mahindra Capital Company Ltd, HSBC Securities and Capital Markets (India) Pvt Ltd, ICICI Securities Ltd, and Batlivala & Karani Securities India Pvt Ltd as to Indian law in connection with the initial public offering of equity shares by Travel Food Services Ltd aggregating to INR 20,000 million comprising an offer for sale of equity shares by Kapur Family Trust.
Khaitan & Co advised and assisted Kedaara Capital (through its Acquirers) in procuring unconditional approval from the Competition Commission of India for its financial investment in Porter. The transaction involved a minority investment of sub 10% through a mix of primary and secondary by the Kedaara Group in Porter for a total consideration of USD ~112.70 million.
Khaitan & Co advised and successfully represented FICCI – Multiplex Association of India and another before the Bombay High Court in Writ Petition No. 2221 of 2014 (“FICCI Writ”) filed against the State of Maharashtra and others (“Respondents”). The FICCI Writ was tagged with other writ petitions involving the same issue, namely Writ Petition No. 497 of 2014 filed by PVR Limited and Writ Petition No. 1755 of 2013 filed by Big Tree Entertainment Private Limited (collectively, the “said Writ Petitions”).
Khaitan & Co acted as the legal counsel and advised Amicus India Capital Partners LLP in the setup of their second fund in India and the setup of a feeder fund in Mauritius, including negotiations with key domestic and international institutional investors for their investment in the India Fund and Mauritius Fund.
