Competition / Antitrust

Khaitan & Co (the “Firm”) acted as legal advisors to JSW Paints Ltd (“Issuer”), part of the JSW Group, in relation to its acquisition finance and maiden issuance of listed, rated, unsecured, redeemable, non-convertible debentures aggregating to INR 3,300 crores (“NCDs”). The proceeds of the NCDs are proposed to be utilised towards, inter alia, funding the acquisition of shares of Akzo Nobel India Ltd by the Issuer.

Khaitan & Co advised General Catalyst in relation to its investment in the series H investment round (led by General Catalyst) alongside other existing investors in Zepto for a total consideration of approximately USD 450 million at USD 7 billion valuation.

Khaitan & Co advised CoinDCX in relation execution of definitive agreement for the proposed investment by Coinbase in CoinDCX to be completed subject to regulatory approvals and customary closing conditions.

Khaitan & Co advised Vitruvian Partners on an equity investment of INR 800 crores (approximately USD 92 million) by funds managed by Vitruvian Partners, through Vitruvian Partners’ Singapore platform, in Hiranandani Financial Services Pvt Ltd Hiranandani Financial Services is a non-banking finance company registered with the Reserve Bank of India and it provides small ticket loans against property to micro, small and medium enterprises (MSME) borrowers to support their business expansion and working capital requirements.

Khaitan & Co advised CEAT Ltd in its acquisition of 'Camso' brand's Compact construction equipment tyre and tracks business from Michelin for a total consideration of USD 225 million. The acquisition includes global ownership of the 'Camso' brand along with manufacturing facility in Sri Lanka.

Khaitan & Co acted as legal advisors to Lightspeed Venture Partners (through Lightspeed Venture Partners Select VI L.P.) as lead investor in the Series B1 round, and to Premji Invest (as existing lead investor making a follow-on investment), on their investments in Weaver Services Pvt Ltd, a technology-led housing finance platform focused on the affordable housing segment.