Competition / Antitrust

Khaitan & Co advised Edelweiss Financial Services Ltd, Edelweiss Asset Management Ltd, and Edelweiss Trusteeship Company Ltd on WestBridge Capital’s proposed acquisition of a 15% stake in each of Edelweiss Asset Management Ltd (i.e., the asset manager of Edelweiss Mutual Fund) and Edelweiss Trusteeship Company Ltd (i.e., the trustee of Edelweiss Mutual Fund), for a consideration of INR 450 crores (approximately USD 51.4 million). 

Khaitan & Co advised Zydus Wellness on the transaction, including the structuring and documentation for the transaction, with assistance from Bird & Bird, United Kingdom. 

Khaitan & Co acted as legal counsel to Peak XV Partners Growth Investments IV (formerly Sequoia Capital India & SEA) (“Peak XV”) on its investment of approximately USD 28 million in the Series C funding round of Intellihealth Solutions Private Limited (“Truemeds”).

The Firm also advised Info Edge Venture Fund on its follow-on investment in the same round.

Khaitan & Co acted as legal advisors to ChrysCapital Advisors LLP in relation to investment of approximately INR 480 crores by ChrysCapital and 360 One in the Series D funding round of Comfort Grid Technologies Private Limited (“The Sleep Company”) through primary investment and secondary acquisition. 

The Firm assisted with (i) conducting due diligence on The Sleep Company; (ii) negotiations and closing of the transaction for ChrysCapital’s investment in the Series D round of The Sleep Company.

Khaitan & Co advised Axight Capital (an investment vehicle managed by Lunate group and backed by ADQ) on all aspects of its acquisition of ~10% stake in Aadhar Housing Finance Ltd, an independent affordable housing finance company, from Blackstone, one of the world’s largest alternative asset manager for a total consideration of ~USD 225 million. 

The Firm role included structuring, diligence and documentation for the transaction.

Khaitan & Co advised Sage in relation to the acquisition of Fyle. Fyle makes expense management effortless and instant for small and medium sized businesses by automating every interaction between employees, finance teams, and accounting systems. Its AI-driven platform embeds receipt capture within everyday apps and surfaces real-time insights to slash month-end close times. Sage is a global leader in accounting, financial, HR and payroll technology for small and mid-sized businesses.

Khaitan & Co advised the MetTube Group (including MetTube Mauritius and MetTube Copper India) in its 50:50 joint venture arrangement with Adani Enterprises Ltd for the copper tubes business. Under the agreements, Adani Enterprises will divest a 50% stake in its wholly owned subsidiary, Kutch Copper Tubes Ltd, to MetTube.

Additionally, Adani Enterprises will invest 50% in MetTube Copper India Pvt Ltd, which is a wholly owned subsidiary of MetTube. Post-transaction, AEL and MetTube shall hold 50% each in Kutch Copper and MetTube Copper India.

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 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.