Khaitan & Co acted as the counsel for JSW Sambalpur Steel Ltd (“Borrower”) in relation to rupee term loan facility aggregating to INR 12000 crores availed by the Borrower from State Bank of India, for the purpose of part financing the acquisition of the steel business undertaking of Bhushan Power & Steel Ltd by way of slump sale on a going concern basis.
Khaitan & Co advised VINCI Highways, a subsidiary of VINCI Concessions, in relation to 100% acquisition of the Safeway Concessions by Concessoc 41 (part of VINCI Concessions) from Macquarie Asia Infrastructure Fund 2, managed by Macquarie Asset Management. Safeway Concessions platform comprises of nine toll road assets across Andhra Pradesh and Gujarat, totalling nearly 700 km along with an integrated O&M entity. Completion is subject to customary conditions and regulatory approvals.
Khaitan & Co advised Mindspace Business Parks REIT ("Issuer") and K Raheja Corp Investment Managers Pvt Ltd as the Issuer's investment manager, in relation to the issue and allotment of up to 56,000 listed, rated, secured, redeemable, transferable, taxable, non-cumulative non-convertible debentures for principal amount aggregating up to INR 560 crores ("Debentures") on a private placement basis ("Issue").
Khaitan & Co acted as the counsel to Aditya Birla Sun Life Insurance Company Ltd (“Issuer”) in relation to the issuance and allotment of up to 50,000 listed, rated, unsecured, redeemable, non-convertible, subordinated, fully paid-up debentures aggregating to not more than INR 500 crores on a private placement basis. The proceeds of the issue will be utilized for augmenting the Issuer’s regulatory capital as per the IRDAI regulations.
Khaitan & Co acted as the transaction counsel in relation to the issuance, allotment and listing of up to 75,000 (seventy fifty thousand) rated, listed, senior, unsecured, redeemable, non-cumulative, non-convertible debentures aggregating to INR 750 crores in three series by Balkrishna Industries Ltd ("Issuer") on a private placement basis ("Issue"). YES Bank Ltd and ICICI Bank Ltd acted as the arrangers to the Issue.
Khaitan & Co acted as legal advisors to Premji Invest (as existing lead investor making a follow-on investment to co-lead the overall funding with Lightspeed) in respect of its investment in Weaver Services Pvt Ltd, a technology-led housing finance platform focused on the affordable housing segment.
Khaitan & Co advised Weaver Services Pvt Ltd on completing the acquisition of 75.01% stake in Centrum Housing Finance Limited from Centrum Capital Limited and certain other shareholders; and entering into binding agreements with Morgan Stanley Private Equity Asia for the acquisition of the remaining 24.99% stake.
Khaitan & Co advised NTPC Ltd (“NTPC”) in relation to the implementation of the resolution plan submitted by the consortium of Maharashtra State Power Generation Company Ltd and NTPC Ltd (“Consortium”) in the corporate insolvency resolution process of Sinnar Thermal Power Ltd (“STPL”) under the provisions of the Insolvency and Bankruptcy Code, 2016 (“Resolution Plan”).
Khaitan & Co advised and has been advising Mr Hitesh Goel, the interim resolution professional (“IRP”) of Supertech Ltd (“Supertech”) during the ongoing corporate insolvency resolution process of the Company (“CIRP”).
Khaitan & Co advised Prime Offices Fund (PRIME), a commercial real estate focused fund managed by Nuvama and Cushman & Wakefield Management Pvt Ltd (NCW), in its joint venture with Keppel Ltd through the acquisition of 51% stake in ‘TenSteps’, a 1.1 million sq. ft., grade A+ commercial office asset located in Pune.
