Banking and Finance

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 acted as the lender's legal counsel to Hero FinCorp Ltd in respect of a structured rupee term loan facility aggregating to INR 200,00,00,000 (Indian Rupees Two Hundred Crores Only) extended to a Large Renewables Platform.

Khaitan & Co advised Brookfield Asset Management on the sale of Arliga Ecoworld Business Parks Pvt Ltd to Brookfield India REIT for USD 1.5 billion. This is the largest transaction involving a Real Estate Trust in India till date. 

Khaitan & Co advised Reliance Consumer Products Ltd in their majority acquisition of Naturedge Beverages Pvt Ltd through a combination of primary and secondary purchase.

Khaitan & Co advised Kolte-Patil Developers Ltd ("Issuer") on the private credit - inventory finance deal for phase I of a project named ‘Life Republic Sector R5/5th Avenue – Canvas’ ("Project") being developed by its subsidiary Kolte-Patil Integrated Townships Ltd (“KPITL”) wherein Marubeni Corporation, Japan ("Investor"), has invested an aggregate amount of INR 139.96 crores by way of subscription to fully secured, listed, rated, redeemable, non-convertible debentures (“Debentures”), issued on a private placement basis by the Issuer.

Khaitan & Co acted as legal advisors to True North Credit Opportunities Fund I in relation to its investment in unlisted, secured, redeemable non-convertible debentures (NCDs) aggregating to INR 360 Crores issued by Innova Rubbers Pvt Ltd and Vee Tee Auto Manufacturing Company Pvt Ltd (Issuers). The proceeds from the issuance of Non-Convertible Debentures (NCDs) were utilised by the Issuers to strengthen promoter control and aligning the structure for future growth of the Issuers.

Khaitan & Co advised State Bank of India as the issuer counsel for the issuance of non-convertible, taxable, redeemable, subordinated, unsecured, fully paid-up BASEL III compliant Tier 2 Bonds in the nature of debentures by State Bank of India with a base issue of INR 5000 crores and a green shoe option of INR 2500 crores, aggregating to INR 7500 crores on private placement basis. 

This was the first domestic bond issuance by a public sector bank in India, in the current financial year.

Khaitan & Co advised WestBridge Capital on leading the USD 50 million Series B round of funding of UnifyApps, an enterprise-focused artificial intelligence startup, with participation from ICONIQ, Lowe’s Ventures and Kamath Technologies LLP.