“Portea Medical has raised series C funding of $26 million led by new investors Sabre Partners and MEMG CDC. Portea’s existing investors Accel, International Finance Corporation (IFC), and Qualcomm Ventures also participated in this round. Avendus Capital provided financial advisory services to the latest funding round in Portea,” reported MediaNama.

Senior Indian law firm partners’ billing rates have increased by around 17% over two years to an average of $335 an hour (Rs 21,580 at current exchange rates) from $292 in 2015 (Rs 18,500 at exchange rates at that time), according to consultancy RSG India’s latest research and its figures from 2015.

KKR India Asset Finance, the realty-focused investment unit of global PE Firm KKR & Co. have invested INR 500 crores (USD 82 million) in a township project of the Bangalore-based Bhartiya City Developers Group by extending a term loan facility, as reported by Mint.

Nettle Infrastructure Investment, a wholly owned subsidiary of Bharti Airtel Limited has sold a stake of 4.49% in mobile masts operator Bharti Infratel for an estimated Rs 3,289 crores (approximately USD 510 million) through block deals in the open market, as reported by Mint and The Economic Times ...

In the latest bi-annual rankings compiled by consultancy RSG India, AZB & Partners has topped the table ahead of Shardul Amarchand Mangaldas (SAM) and Cyril Amarchand Mangaldas (CAM), which had topped the table in 2015 when still united in one firm as Amarchand Mangaldas before their break-up (see full table below).

Cyril Amarchand Mangaldas has appointed another high-profile name to its internal “strategic advisory board”, with the part-time hire of former magic circle firm Allen & Overy’s senior partner David Morley.

Marico’s head legal Surender Sharma has joined Colgate Palmolive India as associate director legal.

Link Legal India Law Services has promoted associate partner Shashwat Kumar to partner.

Former Vaish Associates indirect tax head Shilpa Sharma, who had left the firm in April, has joined the Inox Group as legal advisor.

Trigyn Technologies, a company listed on the BSE and the NSE, has informed the Exchange regarding the scheme of reduction of share capital in the securities premium account has been approved by the NCLT by writing off the losses accumulated in its balance sheet against the amounts standing to the credit of the securities premium account of the company, as reported by Reuters.

Former vice president legal at The Coca Cola Company Devdas Baliga has joined GlaxoSmithKline company GSK Consumer Healthcare as its executive vice president legal for the India subcontinent.

Vodafone India, Vodafone Mobile Services and Idea Cellular have announced their proposal separately to sell their standalone telecom tower businesses to ATC Telecom Infrastructure, a majority-owned subsidiary of American Tower Corporation for about INR 7,850 crores ($1.2 billion), as reported by Mint. The transaction is subject to customary closing conditions and receipt of necessary regulatory approvals.

Shardul Amarchand Mangaldas advised and acted as the legal counsel for Axis Bank and was led by the private equity group of their general corporate practice team for all the legal aspects of the transaction. The transaction team was led by executive chairman Shardul Shroff, Mumbai-based regional practice head Raghubir Menon (M&A and PE, General Corporate), partners Abhishek Guha, Yogesh Chande, and senior associates Ankit Kejriwal and Anwesha Haldar, associates Kanwardeep Kapany, Gaurav Malhotra and Keegan Pavrey.

The promoters of Mumbai-based Donear Group have announced the acquisition of OCM Woollen Mills from its existing owner, a private equity fund house, as part of the strategy to consolidate their top position in Indian textiles industry, as reported by The Economic Times. OCM is one of India’s best-quality manufacturer of premium range of high-quality all-wool and wool-blended worsted suiting fabrics.

The Michael & Susan Dell Foundation (MSDF), along with Aspada Investment Company have raised INR 6.7 crores (USD 1 million) through the acquisition of debentures in Chennai-based school financing firm Shiksha Financial Services, a non-banking financial company focusing on school and student loa...

Pamasis merges with SanAd Legal to form PSLPamasis Law Chambers and SanAd Legal have merged to form the 5-partner, 20-lawyer Delhi and Mumbai based law firm PSL.

KKR India Financial Services, Indian non-banking financial company of US private equity firm KKR & Co, has extended debt of Rs 125 crore (USD 19 million) through a three-year credit facility to Accord Builders, a part of the Mumbai-based Omkar Realtors group, as reported by The Economic Times & Mint. The funds are to be utilised for construction and development of two residential projects in Mumbai.

Former Vodafone senior vice president legal Nitin Banerjee has joined Indian energy major Cairn Oil & Gas to replace Vidyut Gulati as its group general counsel (GC), as first reported by PTI.

Former Economic Laws Practice (ELP) partner and practice head Jyoti Pawar, who went independent last year, has joined Infosys to succeed Gopi Krishnan as deputy general counsel.

Subhash Chandra-owned, Essel Finance Management, the financial services arm of the Essel Group has acquired the controlling stake of insurance policy aggregator Bimadirect, operated by Coretree Insurance Brokers (India) for an estimated amount of Rs. 25-30 crores (approximately $3.8 - $4.6 million), as reported by The Economic Times & VC Circle. The deal will see Essel Finance paying 75% of the deal amount upfront, and the rest over a period of two years.