Real Estate

Khaitan & Co advised ISKCON in its acquisition of premium residential property in Ballygunge, Kolkata from Navneel Ispat Pvt Ltd.

Khaitan & Co represented and assisted PS Group in structuring the framework for the development of an industrial and logistics project over 21 acres of land, having a potential for development of 1.8 million square feet of built-up space, along with the drafting, vetting, finalisation and execution of all transaction documents in relation to such development as well as being the designated project advocate for the said project.

Khaitan & Co advised Ashwin Sheth Group in carrying out title due diligence of the project known as ‘One Marina’ situated at Marine Lines, Mumbai, which is being developed by Valencia and Mishal Ventures Pvt Ltd (Company). The land on which the project is being developed is owned by Municipal Corporation of Greater Mumbai (MCGM). Ashwin Sheth Group acquired 50% stake in the Company and will be developing the project in joint collaboration with the existing shareholder, YM Infra Group.

Khaitan & Co acted as the domestic legal counsel to the Book Running Lead Managers, i.e., Kotak Mahindra Capital Company Ltd, Axis Capital Ltd, BofA Securities India Ltd, ICICI Securities Ltd, IIFL Capital Services Ltd, JM Financial Ltd, Morgan Stanley India Company Pvt Ltd and SBI Capital Markets Ltd in relation to initial public offering of 480,000,000 Units for cash at a price of INR 100 per Unit aggregating to INR 48,000 million by the Knowledge Realty Trust.

Khaitan & C0 acted for and advised Ashwin Sheth Group in carrying out title due diligence in relation to their acquisition of development rights from MHADA in respect of land admeasuring 4.05 acres in Goregaon West. This project is part of the redevelopment of Patra Chawl, located in Siddharth Nagar area of Goregaon, Mumbai.

Khaitan & Co advised Sage in relation to the acquisition of Fyle. Fyle makes expense management effortless and instant for small and medium sized businesses by automating every interaction between employees, finance teams, and accounting systems. Its AI-driven platform embeds receipt capture within everyday apps and surfaces real-time insights to slash month-end close times. Sage is a global leader in accounting, financial, HR and payroll technology for small and mid-sized businesses.

Khaitan & Co assisted Palladium Constructions Pvt Ltd for conversion of its leasehold land admeasuring 5.47 acres to freehold in nature for a consideration of INR 70 crores and in accordance with the West Bengal Land Conversion (Leasehold to Freehold) Scheme, 2022 published by the Government of West Bengal. 

Khaitan & Co advised the MetTube Group (including MetTube Mauritius and MetTube Copper India) in its 50:50 joint venture arrangement with Adani Enterprises Ltd for the copper tubes business. Under the agreements, Adani Enterprises will divest a 50% stake in its wholly owned subsidiary, Kutch Copper Tubes Ltd, to MetTube.

Additionally, Adani Enterprises will invest 50% in MetTube Copper India Pvt Ltd, which is a wholly owned subsidiary of MetTube. Post-transaction, AEL and MetTube shall hold 50% each in Kutch Copper and MetTube Copper India.

Khaitan & Co advised National Payments Corporation of India (NPCI) in acquiring leasehold rights in relation to land admeasuring 1.5 acres in BKC, Mumbai from MMRDA. 

Khaitan & Co Advised Multiples Private Equity Fund in relation to acquisition of control and stake of ~32% in VIP Industries Ltd ("Target Company") for an aggregate consideration of c. INR 1763 crores by Multiples Consortium. The Acquirer would be acquiring shares and control of the Target Company through (a) secondary acquisitions; (b) shareholder's arrangement; and (c) mandatory tender offer.