AZB & Partners is advising Bharti Enterprise on its Rs12.9 billion (US$153m) sale of Del Monte Foods to Agro Tech Foods. Partners Anil Kasturi, Ashish Pareek and Hemangini Dadwal are leading the firm’s team in the transaction, which was signed on November 14, 2024 and is yet to be completed.

AZB & Partners is also advising Weaver Services on its Rs2.6 billion (US$31m) acquisition of Capital India Home Loans. Partners Nandish Vyas and Bhargavy Ramesh are leading the firm’s team in the transaction, which was signed on October 17, 2024 and is yet to be completed.

Moreover, AZB & Partners is advising Jaro Institute of Technology Management and Research on its IPO of equity shares aggregating up to Rs5.7 billion (US$67.5m) and an offer for sale by the promoter selling shareholder aggregating up to Rs4 billion  (US$47.4m). Partners Varoon Chandra and Agnik Bhattacharyya are leading the firm’s team in the transaction, which was signed on September 30, 2024 and is yet to be completed.

JSA has advised Tech UniApps (India) Services and its founder on UnifyApps’ Series B fundraise round. The Series B round involved investments by incoming investors ICONIQ Capital and Kamath Technology, existing investor Elevation Capital, and UnifyApps’ founder. The firm is also advising UnifyApps on an ongoing basis, including on commercial contracts, corporate compliances and group structuring. UnifyApps is engaged in software and application development, and deals in cloud and artificial intelligence-based software applications. Partner Rishabh Gupta, supported by partner Minu Dwevedi, led the firm’s team in the transaction.

K&L Gates has acted as fund counsel to Intudo on the recent closings of Intudo Ventures IV, which has secured total capital commitments of US$75 million, as well as a US$50 million fund that will invest in downstreaming natural resources and renewable energy. Intudo is an investment firm operating in both Indonesia and Silicon Valley, specializing in early-stage investments within Indonesia, under an overarching mandate of bringing the world to Indonesia, and Indonesia to the world. Intudo Ventures IV is Intudo’s fourth flagship fund supported by a diverse group of institutional investors and family offices spanning the United States, Asia, Europe and the Middle East. This fund boasts participation from more than 20 leading global funds and managing partners, 15 Forbes-listed billionaires and their affiliated businesses, as well as more than 30 prominent Indonesian families and their associated conglomerates. Intudo also closed a fund that will invest up to US$50 million in the downstreaming of natural resources and renewable energy in Indonesia. This fund aims to capitalize on the growing opportunities in these sectors within the country, aligning with Intudo’s commitment to fostering sustainable development in Indonesia. Singapore asset management and investment funds (AMIF) partner Jason Nelms, supported by partners Joel Almquist (tax-Boston), Edward Bennett (AMIF-Singapore), Pablo Man (AMIF-Boston) and Matthew Mangan (AMIF-San Francisco), led the firm’s team in the transaction.

Shardul Amarchand Mangaldas & Co has advised ACME Solar Holdings on its IPO, via fresh issue and an offer for sale that included sale of shares by ACME Cleantech Solutions, the promoter selling shareholder. The IPO was subscribed over 2.75 times, with qualified institutional buyers leading the demand at 3.54 times, while the non-institutional component was subscribed 0.97 times. The IPO, which is a significant milestone for ACME Solar, was listed in the Indian stock exchanges on November 13, 2024. The book-running lead managers for the deal were Nuvama Wealth Management, ICICI Securities, JM Financial, Kotak Mahindra Capital and Motilal Oswal Investment Advisors. Capital markets national practice head Prashant Gupta and partners Sayantan Dutta and Devi Prasad Patel led the firm’s team in the transaction, which was valued at approximately US$343.56 million. Cyril Amarchand Mangaldas acted as Indian counsel, while Hogan Lovells Lee & Lee acted as international counsel to the book-running lead managers.

Shardul Amarchand Mangaldas & Co has also advised ICICI Securities, Morgan Stanley India, Kotak Mahindra Capital, Axis Capital, HDFC Bank and Motilal Oswal Investment Advisors, as the underwriters, on the US$260 million IPO of equity shares by Niva Bupa Health Insurance. The IPO comprised a primary issuance of equity shares by Niva Bupa Health Insurance, as well as secondary sale by its promoters, Bupa Singapore Holding (Bupa Group) and Fettle Tone L (True North). The IPO was oversubscribed 1.80 times overall, with the qualified institutional buyers’ component subscribed 2.06 times and the retail investors’ component subscribed 2.73 times. The equity shares were listed on the Indian stock exchanges on November 14, 2024. Capital markets national practice head Prashant Gupta, supported by partner Abhiroop Datta, also led the firm’s team in the transaction. Cyril Amarchand Mangaldas advised Niva Bupa Health Insurance and the selling shareholders on Indian law. White & Case acted as international counsel to the IPO.

Skadden has advised leading online content community Zhihu on its approximately HK$300 million (US$38.5m) all cash tender offer to repurchase more than 33 million  Class A ordinary shares, including in the form of American depositary shares, in the New York and Hong Kong stock exchanges. Partner Shu Du, supported by partners Brian Breheny (SEC reporting and compliance), Sean Shimamoto (tax) and Eric Sensenbrenner (tax), led the firm’s team in the transaction, which was completed on November 8, 2024, and is the first tender offer repurchase conducted by a company dual-primary listed in the United States and Hong Kong.

 

 

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