Massive Vodafone-IDEA merger continues causing quakes in league tables half a year after having been announced…

Ratnadeep Roychowdhury, who had been promoted to partner at AZB & Partners Mumbai in 2015 after joining from erstwhile Amarchand Mangaldas in 2011, is set to join Actis Capital in-house in a senior role - possibly India general counsel (GC) - reported Bar & Bench.

“Budget-hotel tech company Treebo has raised Series C funding of $34 million led by Hong-Kong based investment firms Ward Ferry Management and Karst Peak Capital. Existing investors SAIF Partners, Bertelsmann India Investments and Matrix Partners also participated in the round,” reported Your Story.

Realty Major DLF Limited has entered into an agreement to sell a stake of 33.34% in its rental arm, DLF Cyber City Developers Limited (DCCDL) to Reco Diamond Private Limited, an affiliate of the Singapore sovereign wealth fund, GIC Group, in a multi-stage transaction for an aggregate value of US$ 1.9 billion, as reported by VCCircle and Business Standard.

Aparna Mittal, who had joined AZB & Partners in Delhi from Luthra & Luthra around 18 months ago, has left the firm, as first reported Bar & Bench.

“A stake sale by DLF Ltd’s promoters to an affiliate of Singapore’s sovereign wealth fund GIC Pte Ltd will see capital infusion of nearly Rs 13,000 crore into India’s largest property developer,” reported Mint.

“International Finance Corp (IFC), the private-sector investment arm of the World Bank, will sell its entire 7.5% stake in Analjit Singh-led Max Group’s healthcare business for Rs 423 crore ($65.3 million),” reported VCCircle.

“Mars Food, part of Mars Inc said it has signed a definitive agreement to acquire Connecticut-based Preferred Brands International, known for its ready-to-heat Indian and Asian food products sold primarily under brand Tasty Bite,” reported The Hindu Businessline.

Khaitan & Co Bangalore partner Ganesh Prasad with associate partner Vinay Joy, principal associate Arun Scaria and senior associate Sanjay Khan Nagra represented Indian Singapore-headquartered e-commerce Flipkart on the $2.5bn investment.

“SBI Life Insurance Co. Ltd on Monday filed the draft red herring prospectus for its initial public offering (IPO), joining several other insurance companies headed for the stock market. In an offer for sale, SBI and BNP Paribas will sell 80 million and 40 million shares respectively, amounting to a combined 12% stake. SBI Life is not raising any primary capital. The IPO could see SBI Life raise more than $1 billion (about Rs6,500 crore), a Bloomberg story quoted bankers as saying,” reported Mint.

“KKR, one of the largest PE investors in the world, signed a definitive agreement on Monday to invest $200 million for a 49% stake in Radiant Life Care,” reported the Economic Times.

“The initial public offering of Central Depository Services Ltd (CDSL) received bids for 170 times the number of shares on sale, making it the most attractive IPO in nearly 12 years. The public offering of 24.83 million shares – excluding the anchor investors’ portion – got bids for nearly 52 million shares, stock-exchange data showed at the end of bidding on Wednesday. This translates into bids worth Rs 62,653 crore ($9.7 billion),” reported VC Circle.

Tata Steel on Friday sold its entire 2.9 per cent stake in Tata Motors to Tata Sons through a block deal on the BSE. A block deal of 8.35 crore shares was executed at an average price of Rs 452.80 a share. At that price, the deal size stood at Rs 3,780.88 crore. Last week, the Tata group had said to reduce cross-holdings, Tata Sons, the holding company of the $103-billion Tata group, will acquire Tata Steel’s 2.85 per cent share in Tata Motors on or after June 23. After the stake buy, Tata Sons’ holding in Tata Motors will increase to 31.06 per cent from the current 28.2 per cent.

Former AZB & Partners Delhi partner and capital markets practice head Meera Singh, who had left the firm in May, has joined consultancy KPMG as general counsel reported Bar & Bench.

Trilegal will move into a bigger office in Peninsula Business Park Tower B’s 17th floor, with space for around 200 staff, by next month, as AZB & Partners lateral hire Nisha Kaur Uberoi has joined Trilegal yesterday with a team of five.

As expected, Trilegal has completed its partnership vote today to admit AZB & Partners competition co-head Nisha Kaur Uberoi, after beginning voting yesterday as first reported on Legally India.

AZB & Partners Mumbai-based partner and competition practice co-head Nisha Kaur Uberoi is likely to be joining Trilegal as an equity partner and to head its competition practice.

“Private equity firm Warburg Pincus LLC part-exited Capital First Ltd by selling a 25% stake in the non-banking financial company (NBFC) through open market transactions on Wednesday, according to a stock exchange filing. Cloverdell Investment Ltd, an affiliate of Warburg Pincus, sold the stake to marquee global and domestic investors, including Singapore’s sovereign wealth fund GIC,” reported Mint.

Cyril Amarchand Mangaldas (CAM) is closing its transaction support group (TSG), which was set up 2013 in Mumbai to explore providing volume-focused transactional support at lower rates on work such as due diligence and other commoditised advice, with its TSG head Ami Parikh joining AZB & Partners to start a TSG there.

Bharti Airtel’s director legal Sameer Chugh leads, in his words, a “fast-paced” industry.