Khaitan & Co advised JSW Ispat Steel Ltd in relation to the transfer of the steel business of Bhushan Power and Steel Ltd by way of a slump sale for a cash consideration of INR 24,483 crores and investment of a total of INR 15,750 crores by JFE in two tranches; and (c) Joint venture between JSW Steel Limited and JFE in the business.
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 acted as the sole Indian law legal counsel to MUFG Bank Ltd and Sumitomo Mitsui Banking Corporation in connection with a short-term loan facility of INR 250 crores (with letter of credit, overdraft facility and purchase invoice facility as sub-limits) extended to AM Green (India) Pvt Ltd. The proceeds of the financial assistance shall be utilised, inter alia, towards costs and expenses of earmarked projects.
On 3 November 2025, the Unique Identification Authority of India (UIDAI) updated its ‘Frequently Asked Questions (FAQs) on Aadhaar Data Vault (ADV) / Hardware Security Module (HSM)’ (FAQs), based on its revised ADV Circular dated 18 July 2025 (Circular).
Khaitan & Co advised Nuvoco Vistas Corporation in relation to acquisition by Nuvoco Vistas Corporation of Algebra Endeavour Pvt Ltd (along with its subsidiary Vadraj Energy (Gujarat) Ltd) from JSW Cement Ltd and Alpha Alternatives Holdings Pvt Ltd for a total consideration of INR 200 crores.
The Firm represented Nuvoco Vistas Corporation in entire acquisition, including due diligence and negotiations of the documentation.
Khaitan & Co advised Barclays Bank PLC in relation to subscription of listed, secured, non-convertible debentures with a base issue of INR 900 crores with a green shoe option of up to INR 500 crores issued by SMFG India Credit Company Ltd (a wholly owned subsidiary of Sumitomo Mitsui Financial Group, Inc.) on a private placement basis.
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.
SEBI vide its circular no. CIR. /IMD/DF/22/2011 - Public issue of Debt Securities- Prohibition on payment of incentives dated 26 December 2011 (Circular) prohibited payment of incentives by a person connected with a public issue of debt securities to a potential investor for making an application for allotment of specified securities.
Khaitan & Co acted as the Indian legal counsel to RateGain Travel Technologies, a global provider of AI-powered SaaS solutions for the hospitality and travel industry, on (a) its acquisition of Sorjun Inc., a US-based technology company, in an all-cash deal for US$250 million; and (b) raising acquisition financing of US$125 million from HSBC and Citibank.
Khaitan & Co advised R Systems International Ltd (a portfolio company owned by Blackstone group in relation to the acquisition financing by way of issuance of listed, unsecured, non-convertible debentures aggregating up to INR 275 crores to Standard Chartered Bank, through its IFSC Gift City branch, on a private placement basis. for acquisition of 100% of the equity shares of Novigo Solutions Pvt Ltd from its existing promoters. Standard Chartered Bank also acted as an arranger for this transaction.
