Capital Markets

Khaitan & Co advised SPR Auto Technologies Ltd, on its QIP aggregating to INR 1000 crores

Khaitan & Co advised the Selling Shareholders namely - Tribe Capital III, LLC – Series 1, LR India Fund I SICAV-RAIF, AFOS LLC, Agility International Investment, MCP3 SPV and 500 Startups III, L.P., on the IPO of Shiprocket Ltd, comprising a fresh issue and an offer for sale aggregating to INR 16,174.85 million.

Khaitan & Co advised Milky Mist Dairy Food Limited and its Promoters on the initial public offering of its equity shares aggregating up to INR 15,530.00 million, comprising a fresh issue of up to INR 14,280.00 million and an offer for sale of up to INR 1,250.00 million.

Khaitan & Co advised Molbio Diagnostics Ltd on its IPO aggregating to INR 9,396.96 million, comprising a fresh issue and an offer for sale.

Khaitan & Co acted as legal counsel the book running lead managers on the quarter of a billion-dollar IPO by the Bain Group owned and backed Dhoot Transmission Ltd.

Khaitan & Co advised Purvah Green Power Pvt Ltd, a subsidiary of CESC Ltd, on its acquisition of 100% of the share capital of ReNew Hans Urja Pvt Ltd, ReNew Solar Photovoltaic Pvt Ltd, ReNew Wind Energy (Karnataka 3) Pvt Ltd, ReNew Wind Energy (MP Four) Pvt Ltd, ReNew Wind Energy (Karnataka 4) Pvt Ltd, and ReNew Agni Power Pvt Ltd, from ReNew Solar Power Pvt Ltd (collectively, the “Target Companies”), pursuant to a Share Purchase Agreement.

Khaitan & Co acted as the Legal counsel to the book running lead managers as to Indian law in connection with the initial public offering of equity shares of Manipal Health Enterprises Limited of Rs 9,275 crores, comprising of a fresh issue of Rs 8,000 crores and an offer for sale by certain existing shareholders of Rs 1,275 crores.

Khaitan & Co advised Cerberus Capital Management L.P. and some other investors on their investment in a landmark transaction involving the Shapoorji Pallonji Group. The transaction included (i) the issuance of up to INR 21,350 crores of unrated, unlisted, secured, zero-coupon redeemable non-convertible debentures issued by Eqyizen Investment Pvt Ltd, a Shapoorji Pallonji Group company, and (ii) the issuance of senior, secured USD bonds aggregating to USD 650 million being issued by Mercury Finance Company.

Khaitan & Co advised Belding India Ltd ("Belding"), a company listed on BSE Limited, on its 100% acquisition of Evolve IT Solutions Pvt Ltd ("Evolve") from its existing promoters / shareholders.

Khaitan & Co advised Mahindra & Mahindra Ltd, a leader in automotive, farm, and services businesses and Mahindra Last Mile Mobility Ltd (MLMML), on a ~INR 322 crores primary fundraise into M&M’s last mile mobility arm, MLMML, at a valuation of INR 10,822 crores.