Amarchand Mangaldas, AZB & Partners, JSA, Khaitan & Co, DSK Legal, HSA Advocates and Clasis Law reported activity in glamorous PEs, vibrant M&As, savvy markets, and many power-packed financings.
Private Equity
French banker Groupe BPCE’s investment management arm Natixis Coficine financed Hindi film production house Yash Raj Films’ upcoming Hollywood movie
Yash Raj Films: HSA Advocates partner Navin Syiem, senior associate Rajesh Pathania and associate Shraddha Malhotra
Natixis Coficine: International law firm Reed Smith LLP
PEs, World Bank member IFC and French financer Proparco funded Rs 554 crore ($100m) for interactive education software services provider Educomp Solutions, by buying Educomp’s equity worth $20m, FCCBs worth $10m and syndicating a loan worth $70m. In parallel $50m was raised by preferential allotment of shares to IFC, Proparco and Mount Kellett.
Educomp Solutions: Clasis Law partners Vineet Aneja, Ishtiaq Ali and Damodara Rao, senior associates Mohit Sharma and Sangeeta Jhunjhunwala and associate Rajat Sehgal
IFC and Proparco: Amarchand Mangaldas partners Ravindra Bandhakavi and Shilpa Mankar Ahluwalia, principal associate Pooja Mahajan, senior associate Nidhi Seth, and associates Parnika Malhotra and Shubhangi Garg
Mount Kellett: AZB & Partners partner Shuva Mandal and senior associate Nilanjana Singh
Corporate/M&A and Joint Ventures
Protective paint-coatings business PPG Coatings India formed a new joint venture (JV), and expanded an existing JV, with non-decorative paints-maker Asian Paints’ group company AP Coatings. The expanded JV is Asian PPG Industries and the new JV is Asian Paints PPG
PPG Industries: Amarchand Mangaldas partners Anuj Prasad and Anirudh Das, principal associate Anubhuti Agarwal, senior associate Anu Susan Abraham, and associate Nandini Gangal and Rohan Dheman
Asian Paints: DSK Legal partners Raksha Kothari and Nirav Shah, and Rajesh Shah & Co
Calcutta power producer and supplier CESC bought Indian diversified conglomerate Indiabulls’ Sikkim-based 90 MW hydropower producing subsidiary Papu Hydropower
CESC: Khaitan & Co partner Amitabh Sharma and associate partner Nishant K Singh
Indiabulls: In-house
Capital Markets{loadposition latestjobs}
Global IT and software service provider NIIT Technologies’ promoters sold 7.3 per cent of the company’s equity held by them for Rs 120 crore ($21.6m) through a special block deal window offered by National Stock Exchange and Bombay Stock Exchange. Citigroup Global Markets India were the brokers to the offer
Promoters: Amarchand Mangaldas partner Prashant Gupta and senior associate Monal Mukherjee
Citigroup Global Markets India: AZB & Partners and international law firm Cleary Gottlieb Steen & Hamilton
Project Finance
IDBI Bank led a consortium of banks in financing Rs 330 crore for hydropower PSU Jaiprakash Power Ventures’ (JPVL) Madhya Pradesh thermal power project - the 500 MW Bina power plant
IDBI-led consortium: J Sagar Associates (JSA) partner Aashit Shah and senior associates Deepak Thakur and Sugandha Asthana
JPVL: In-house
Banking and Finance
State Bank of India (SBI) extended a term loan of Rs 5000 crore ($904m) to Essar Oil
SBI: AZB & Partners partner Bahram Vakil and associate Kumarjit Ray
Essar Oil: In-house
International investment bank Standard Chartered’s London branch loaned €120 million (Rs 826 crore) to Indian multinational power generator Crompton Greaves’ Netherland unit which bought Spanish digital electricity-generation equipment maker ZIV Aplicaciones Y Tecnologia, through the overseas direct investment route
Standard Chartered: Khaitan & Co partner Devidas Banerji, and Clifford Chance
ICICI bank led a consortium of lenders in extending a term loan of Rs 50 crore to thermal power producer Great Eastern Energy Corporation (GEECL) for expansion of its West Bengal based coal bed methane facility
ICICI and other lenders: Luthra & Luthra
GEECL: Khaitan & Co partner Devidas Banerji
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