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Investcorp India Asset Managers Private Limited - Sale of stake in Citykart Ventures

Submitted by kcoadmin on Wed, 06/18/2025 - 15:03

Khaitan & Co advised Investcorp Private Equity Fund II on the sale of their entire holding of approximately 23% stake in Citykart Ventures Pvt Ltd, to A91 Emerging Fund II LLP and NewQuest Asia Fund V (Singapore) Pte. Ltd (a TPG entity), along with other sellers including India SME Investments Fund I and Micro Labs Ltd.

IFB Agro Industries Limited - Business Transfer Agreement with Cargill India Private Limited

Submitted by kcoadmin on Tue, 06/17/2025 - 08:58

Khaitan & Co advised and assisted IFB Agro Industries Ltd on the proposed acquisition of the entire commercial compound shrimp feed and freshwater fish feed business of Cargill India Pvt Ltd as a going concern on a slump sale basis, along with its manufacturing facilities located at Vijayawada and Rajahmundry in Andhra Pradesh, subject to the terms of the definitive agreements.

Deserve Labs Private Limited - Transfer of India business as part of the global transaction

Submitted by kcoadmin on Tue, 06/17/2025 - 08:53

Khaitan & Co advised Deserve India on its India-level restructuring and the transfer of assets, from Deserve India to Intuit India. This transaction was part of a larger global acquisition where Intuit Inc., an American multinational fintech company, acquired key technology from Deserve, Inc., a mobile-first credit card platform.

Pimpri Chinchwad Municipal Corporation - Green municipal bond issuance

Submitted by kcoadmin on Tue, 06/17/2025 - 08:47

Khaitan & Co advised Pimpri Chinchwad Municipal Corporation on the private placement of up to 10,000 secured, rated, listed, taxable, redeemable, non-convertible green bonds in the nature of debentures, each having a face value of INR 2 Lacs. Each bond comprises two separately transferable and redeemable principal parts (STRPPs): one STRPP A of face value INR 1 Lacs and one STRPP B of face value INR 1 Lacs.

Cerberus Capital affiliate and certain other investors on a INR 28,600 crores investment in NCDs issued by the Shapoorji Pallonji Group

Submitted by kcoadmin on Tue, 06/17/2025 - 08:38

Khaitan & Co has advised an affiliate of Cerberus Capital Management and certain other investors on their investment in the unrated, unlisted, secured, zero coupon, redeemable, non-convertible debentures issued by Porteast Investment Pvt Ltd, a member of Shapoorji Pallonji Group, for an amount up to INR 28,600 crores (approx. USD 3.3 billion) for the purpose of refinancing the existing debt of group entities.

A leading global IT/ITeS company before the Central Government Industrial Tribunal-I

Submitted by kcoadmin on Tue, 06/17/2025 - 08:23

Khaitan & Co successfully represented a leading global IT/ITeS and business process outsourcing company before the Central Government Industrial Tribunal-I (CGIT-I), Mumbai, in a statutory appeal under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (EPF Act). The Firm secured an interim order dated 22 May 2025, staying the impugned order passed under Section 7A of the EPF Act, which had assessed a liability of INR 26.08 crores, subject to a deposit of only 10% of the assessed amount.