In the first instance of resolution of a stressed power asset outside the insolvency and bankruptcy code (IBC) mechanism where the promoters have retained management control, a consortium of lenders led by Power Finance Corporation (PFC) has agreed to take a 38% haircut against their exposure of Rs ...

South Asia- and Africa-focused healthcare delivery platform Evercare, a portfolio company of TPG’s The Rise Fund, has acquired Bangladesh-based Apollo Hospitals Dhaka for BDT10b (approximately USD118m). — Empea Desai & Diwanji advised STS Holding Ltd. (Promoter of Apollo Hospitals-Dhaka) led by...

Veritas Finance Pvt. Ltd has raised Rs 350 crore ($46 million at current exchange rates) in its Series E round of funding led by existing investor Norwest Venture Partners. — VCCircle Veritas Legal advised Kedaara Capital Fund I LLP led by a team of partner Nandish Vyas , senior associate Kanisha Vo...

Aéroports de Paris (AdP) S.A.proposed to invest INR 10,780 crore in GMR Airports Limited. The transaction involves an acquisition of an aggregate 49% stake in GMR Airports Limited in two tranches. The second tranche of the transaction is subject to approvals from regulatory authorities, according to...

Cyril Amarchand Mangaldas has paid out bonuses to fee-earners yesterday, this year around a week earlier than usual, due to the national COVID-19 lockdown.

Gurugram-based Apollo Tyres on Wednesday said global private equity firm Warburg Pincus will invest $150 million in the company. The board of Apollo Tyres has approved issuance of compulsorily convertible preference shares worth Rs 10,800 million (about $150 million) to an affiliate of Warburg Pincu...

Four law firms have bagged what could be the last big initial public offering (IPO) in a long while, considering the damage the COVID-19 pandemic is wreaking across global financial markets, picking up roles on the short-lived blockbuster SBI Cards and Payments Services subsidiary of State Bank of I...

From today, nearly all of Khaitan & Co lawyers and support staff will officially have the option of working from home, in a bid to reduce the risk of spreading the novel coronavirus (COVID-19) amongst its workforce.

JSW Energy has entered into exclusive discussions with GMR Energy Limited (GEL) for potential acquisition of its subsidiary, GMR Kamalanga Energy Limited (GKEL), which owns and operates a 1,050 MW (3x350 MW) thermal power plant in Odisha, for an enterprise value of ₹5,321 crore. — The Hindu Cyril Am...

Scoop: He joins the mortgage giant as its legal head

New Delhi: Realty firm Indiabulls Real Estate Ltd has agreed to sell commercial projects in Mumbai and Gurugram to global investment firm Blackstone for an enterprise value of ₹810.7 crore. — Mint J Sagar Associates advised Indiabulls Real Estate Limited led by a team of partners Lalit Kumar and Bha...

Generico, a pharmacy retail chain which sells low-cost generic medicines, has raised $14 million (around Rs 100 crore) in a new funding round led by venture capital firm Lightbox. — VCCircle DSK Legal advised Lightbox Ventures III led by a team of partner Hemang Parekh , principal associates Jayesh ...

Scooter rental startup Bounce is having a ball. Within six months of raising $72 million, the Bengaluru-based venture has raised $97.5 million in a Series D round led by Accel Partners and B Capital. Existing investors, including Chiratae, Sequoia Capital, Omidyar and others also participated in the...

After three months of serving out his notice, Shardul Amarchand Mangaldas (SAM) Delhi partner Anuj Prasad will join national rival Cyril Amarchand Mangaldas (CAM) as partner and the firm’s (first) head of its new aerospace and defence sector group.

National head of banking and finance and partner at Shardul Amarchand Mangaldas, Sapan Gupta, is set to join Indo-French multinational steel ArcelorMittal in a senior regional general counsel (GC)-like role in Mumbai, according to two sources with knowledge of his move.

The Board of UFO Moviez India at its meeting held on 20 December 2019 has approved an investment of Rs 20 crore by way of convertible instruments over a period of three years in Cinestaan Digital. Post conversion of instruments, the company will get up to 62.50% stake in Cinestaan Digital. — Busines...

Shardul Amarchand Mangaldas (SAM) private equity (PE) and venture capital (VC) partner Siddharth Nair will remain with the firm but has moved from Bangalore to Delhi in a primarily non-fee-earning role, we understand.

Apeejay Surrendra Park Hotels Ltd, which owns and operates hotel under the brand name ‘The Park’, has filed a draft prospectus with the Securities and Exchange Board of India for an initial public offering. — VCCircle Khaitan & Co advised the managers , ICICI Securities Limited , Axis Capital L...

ZestMoney, an artificial intelligence-driven financing platform, has raised over Rs 100 crore ($15 million) in an equity investment round led by American investment banking giant Goldman Sachs. The Bengaluru-based company’s existing investors, Naspers Fintech, Quona Capital and Flourish, also partic...

New Delhi: SoftBank-backed Oyo Hotels & Homes has acquired Fortune Select Metropolitan Jaipur, currently managed by ITC Hotels, as part of its plans to enter the four-star segment currently dominated by marquee Indian and international hotel chains. Oyo has acquired the Jaipur fourstar property...