Capital Markets

Khaitan & Co acted as the counsel to the issuer HFCL Ltd in relation to their Qualified Institutional Placement (QIP) aggregating to INR 550 crores.

Khaitan & Co advised Advent International on the sale of Encora Holdings to Coforge Ltd at a value of USD 2.35 billion. 

Khaitan & Co advised the Broker i.e., Goldman Sachs (India) Securities Pvt Ltd in relation to the Offer for Sale of equity shares of Indian Overseas Bank held by the President of India, acting through the Department of Financial Services, Ministry of Finance, Government of India, through the stock exchange mechanism.

Khaitan & Co acted as legal counsel the book running lead managers (JM Financial Ltd, Axis Capital Ltd, IIFL Capital Services Ltd, SBI Capital Markets Ltd and 360 One Wam Ltd) as to Indian law in connection with draft red herring prospectus filed by the Blackstone Group owned Horizon Industrial Parks Ltd in relation to its proposed initial public offering of equity shares aggregating up to INR 2,600 million. 

Khaitan & Co advised Viatris Inc., a global pharmaceutical company, on it’s proposed sale of shares held in Biocon Biologics Ltd (“BBL”) for cash + swap of shares with shares in Biocon Ltd (“BL”), through a preferential allotment by BL. Biocon will acquire the stake held by Mylan Inc. (“Viatris”) for a total consideration of USD 815 million, of which USD 400 million will be payable in cash and USD 415 million through a share swap of BL shares.

The firm advised Viatris on Indian aspects of structuring and transaction documentation.

Khaitan & Co advised PCBL Chemical Ltd in relation to the (1) preferential issue of 1,60,00,000 Warrants at a price of INR 280 per Warrant aggregating to INR 448.00 crores to the Promoters and (2) exercise of 1,60,00,000 Warrants into 1,60,00,000 Equity Shares of face Value of INR 1 each at a price of INR 280 per Warrant aggregating to INR 448.00 crores.

Khaitan & Co advised Visa Steel Ltd in relation to the preferential issue of 5,00,00,000 Warrants convertible into 5,00,00,000 Equity Shares of Face Value of Rs. 10 each at a price of Rs. 40 per Warrant aggregating to Rs. 200 Crores to the Promoters.

Khaitan & Co advised CBRE Group, Inc. in relation to acquisition of Pearce Services LLC, a leading provider of advanced technical services for digital and power infrastructure, from New Mountain Capital. The initial purchase price is approximately $1.2 billion in cash plus a potential earn-out of up to $115 million, subject to Pearce meeting certain performance thresholds in 2027. 

The Firm assisted Sullivan & Cromwell with respect to the due diligence, review of transaction documentation, regulatory advisory, and overall transaction advisory.

Khaitan & Co advised Mr Boman Rustom Irani, Mr Percy Sorabji Chowdhry, and Mr Chandresh Dinesh Mehta. (the "Promoters") and Avendus Capital Pvt Ltd, Spark Institutional Equities Pvt Ltd and Motilal Oswal Financial Services Ltd (Brokers) in relation to the sale of 45,76,000 equity shares of Keystone Realtors Ltd through an Offer for Sale of Equity Shares by the Promoters through the stock exchange mechanism aggregating to INR 252 crores.

Khaitan & Co acted as legal counsel the book running lead managers, JM Financial Ltd, Axis Capital Ltd, Citigroup Global Markets India Pvt Ltd and HSBC Securities and Capital Markets (India) Pvt Ltd as to Indian law in connection with the initial public offering of 90,680,100 equity shares by Tenneco Clean Air India Limited aggregating to Rs. 36,000 million comprising an offer for sale of equity shares by Tenneco Mauritius Holdings Ltd.