DMD Advocates is advising Yatra Online Limited, one of India’s leading online travel companies, on the proposed acquisition of a 100% stake in Globe All India Services Limited (Globe Travels), a wholly owned subsidiary of Ramkrishna Forgings Limited, for INR 128 crore (~USD 15.25 million). Through this acquisition, Yatra will gain access to Globe Travels’ portfolio of approximately 360 corporate customers and annual gross bookings of approximately USD 90 million. DMD has been involved in spearheading the legal due diligence, as well as drafting and negotiating the transaction documents.
The transaction is led by Rashi Dhir, Senior Partner & Head of Corporate along with Tarinee Sudan, Partner, Shubhangi Bhatnagar, Principal Associate, and Aditi Kumari, Associate.
Associates Malvika Gupta, Jasmine Brar, Shriya Sehgal, and Sarvagya Shankar assisted the transaction team with the due diligence exercise.
Read More: https://investors.yatra.com/press-releases/press-release-details/2024/Yatra-Doubles-Down-on-Corporate-Travel-with-the-Acquisition-of-Globe-Travels-Solidifying-its-Leadership-Position/default.aspx
DMD Advocates advised Centre For Sight (CFS), a leading network in Ophthalmology nationwide, on its strategic collaboration with Laxmi Eye Hospital, a distinguished eye care provider. This partnership marks a significant milestone in Centre For Sight’s expansion strategy, enhancing its presence in Maharashtra to 9 centres. DMD has been involved in the drafting and negotiation of the transaction documents and closing related matters.
The transaction was led by Senior Partner & Head of Corporate – Rashi Dhir, Partner – Tarinee Sudan, Senior Associate – Priyanka Hazarika, and Associates – Srishti Pandey and Jasmine Brar.
Read More: https://www.livemint.com/companies/news/centre-for-sight-laxmi-eye-hospital-collaboration-healthcare-chain-maharashtra-eyecare-single-specialty-healthcare-11725452862446.html
DMD Advocates advised WSB Real Estate Debt Fund III represented by its Investment Manager (WSB Real Estate Partners Private Limited) (“WSB”) in connection with the issue of senior, unrated, unlisted, secured, redeemable, non-convertible debentures (“NCDs”) aggregating to INR 115 crores by Lavim Developers Private Limited, a wholly owned subsidiary of Paranjape Schemes (Construction) Limited (together “PSCL”).
The DMD team included Partner – Pallavi Puri, Principal Associate – Kajal Tandon, Senior Associate – Aishwarya Gupta and Associate – Arnav Mithal.
DMD Advocates advised and successfully represented GE India Industrial Private Limited (“GEIIPL”) before the National Company Law Tribunal, New Delhi Bench (“NCLT”) for the demerger of its energy businesses.
The demerger formed part of a global strategy of General Electric Company, the ultimate parent of GEIIPL, and a company listed on the New York Stock Exchange, to spin off its businesses into three companies focusing on aviation, healthcare, and energy.
The core transaction team consisted of Senior Partner & Head of Corporate – Rashi Dhir, Partners – Pawan Sharma and Pallavi Puri, Principal Associates – Anuj Shah and Rishabh Sharma.
The core transaction team was supported by Associate Partner – Saiyam Chaturvedi, Principal Associates – Divay Rastogi and Pragathi P, Senior Associate – Aishwarya Gupta and Associate – Srishti Pandey.
DMD Advocates advised Analytic Edge Pte. Ltd. and Analytic Edge Private Limited (collectively, AE Entities), a premier provider of AI-based marketing analytics solutions, and their promoters in the acquisition of AE Entities by C5i, an AI & analytics company. This strategic integration will enhance C5i’s value proposition and integrated global delivery of GenAI-powered marketing analytics, insights, and optimization solutions.
The transaction was led by Rashi Dhir (Senior Partner and Head of Corporate), along with Tarinee Sudan (Associate Partner), Shubhangi Bhatnagar (Senior Associate), and Malvika Gupta (Associate). Sachit Jolly (Senior Advisor) assisted the transaction team with tax advisory.
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DMD Advocates advised Chalasani Hospitals Private Limited and its shareholders, Dr. Vijayalakshmi Chalasani, Dr. Saileesh Chalasani, Dr. Usha Chalasani, and others, in connection with the sale of 100% of their shares in the company to Krishna Institute of Medical Sciences Limited (KIMS). Chalasani Hospitals Private Limited owns and operates the Queen’s NRI Hospital, a 200-bed multi-specialty hospital in Visakhapatnam. The transaction was signed on July 09, 2024, and is yet to be closed.
The DMD team was led by Monika Deshmukh (Partner), Himanshu Garg (Principal Associate), and Disha Jain (Associate).
Read More: https://business-news-today.com/kims-hospitals-expands-in-vizag-with-acquisition-of-queens-nri-hospital/#google_vignette
Congratulations to the shareholders of Chalasani Hospitals Private Limited, Krishna Institute of Medical Sciences Limited, and all parties and advisors involved!
DMD Advocates is advising New Delhi Centre for Sight (CFS), one of India’s leading eye care hospital chain, in an investment transaction from ChrysCapital, a private equity fund, wherein ChrysCapital has agreed to invest up to US$ 100 million by way of a primary infusion in CFS and through secondary acquisition of the entire stake held by the existing investor in CFS, i.e., Mahindra Holdings Limited, a wholly owned subsidiary of Mahindra & Mahindra Limited. DMD Advocates has been involved in drafting and negotiation of the transaction documents, as well as in conducting a vendor legal due diligence of CFS, its subsidiaries and the centres operated by CFS.
The transaction is led by Rashi Dhir (Senior Partner and Head of Corporate) along with Saiyam Chaturvedi (Associate Partner), Kajal Tandon (Principal Associate), Divay Rastogi (Principal Associate), Priyanka Hazarika (Senior Associate), Harshit Kumar (Associate), Arnav Mithal (Associate), and Srishti Pandey (Associate).
Aishwarya Gupta (Senior Associate), Astha Jindal (Associate), Aditi Kumari (Associate), Ayushi Mukherjee (Associate), Ela Bharti (Associate), Jasmine Brar (Associate), and Tarush Bhandari (Junior Associate) assisted the transaction team in the vendor due diligence exercise.
DMD Advocates advised MVIN Carco One Private Limited (Moove), a company engaged in the business of deploying and assigning vehicles to local drivers, in relation to the issuance of non-convertible debentures for an amount of $10 million to Stride Ventures Group, a sector agnostic venture debt fund.
The transaction was led by Pallavi Puri, Partner, along with Ayushi Mukherjee, Associate. The team was involved in drafting, negotiation of the transaction documents and closing of the deal.
DMD advised SentinelOne, Inc. (SentinelOne), a global leader in AI-powered security, on its acquisition of PingSafe Pte. Ltd., and its Indian subsidiary, PingSafe India Private Limited (collectively, PingSafe) in a cash and stock transaction.
SentinelOne is a cybersecurity platform company delivering autonomous security for endpoints, containers, cloud workloads, and IoT devices. PingSafe, a Peak XV’s Surge backed company, is a cloud security platform that provides protection against vulnerabilities that traditional security solutions may miss.
DMD’s role in the transaction involved spearheading the due diligence at the India level, and transaction structuring and documentation in relation to the India leg of the transaction. The transaction was led by Partner Pallavi Puri along with the Associates Aishwarya Gupta and Arnav Mithal.
DMD Advocates has advised Ramesh Pillai, Jaya Pillai, and Karthik Pillai, the shareholders of Mullackal Polymers Private Limited, in connection with the sale of their shares in the company to IPACKCHEM Group SAS. Mullackal Polymers Private Limited is inter alia engaged in the business of manufacturing barrier and conventional non-barrier rigid plastic packaging, jerry cans, caps/enclosures, measuring cups, plugs, etc. With this acquisition, Mullackal Polymers Private Limited would become a wholly owned subsidiary of IPACKCHEM Group SAS.
The DMD team was led by Monika Deshmukh, Partner, along with Himanshu Garg, Principal Associate, and Disha Jain, Associate.
Congratulations and thanks to Ramesh Pillai, Jaya Pillai, and Karthik Pillai, as well as all parties and advisors involved!
DMD Advocates advised Biesterfeld Group from Germany in connection with the formation of its joint venture, Biesterfeld Hildose Speciality Chemicals Pvt. Ltd., with the promoters of Hildose Pharma Specialities. The Biesterfeld Group is a global distributor for plastics and chemicals with a presence in more than 30 countries worldwide. With this joint venture, Biesterfeld is creating a strategic and long-term foundation for an active presence in India.
The transaction was led by Monika Deshmukh, Partner, along with Himanshu Garg, Principal Associate, and Disha Jain, Associate. The team worked along with EY Law Germany on this transaction. The EY Law team was led by Dr. Jan Phillip Feigen, Dr. Maximilian Menges, Lorenz Carstensen and Liza Wessling.
Congratulations and thanks to Biesterfeld, Hildose and all parties and advisors involved!
DMD Advocates advised Khaba Renewable Energy Private Limited, a company engaged in the business of developing ISTS grid-connected solar photovoltaic power project and its shareholder – Enel Green Power India Private Limited, in relation to the sale of 100% shareholding in Khaba Renewable Energy Private Limited to Solairedirect Energy India Private Limited, a global renewable energy company focused on solar power.
The transaction was led by Pallavi Puri, Partner, along with the Associates, Aishwarya Gupta and Arnav Mithal. The team was involved in drafting, negotiation of the transaction documents and closing of the deal.
DMD’s corporate transactional and advisory practice group is headed by Senior Partner, Rashi Dhir.
Roadzen Inc., a global insurance technology company, announced the completion of its previously announced business combination with Vahanna Tech Edge Acquisition I Corp., a special purpose acquisition company. DMD Advocates acted as legal counsel to Vahanna Tech Edge Acquisition I Corp. advising on applicable Indian laws.
The transaction for DMD Advocates was led by Rashi Dhir (Senior Partner and Head of Corporate) along with Tarinee Sudan (Associate Partner), Priyanka Hazarika (Senior Associate), Astha Jindal (Associate) and Aditi Kumari (Associate). Saiyam Chaturvedi (Associate Partner), Divay Rastogi (Principal Associate), Sartthak Kapur (Associate), Ela Bharti (Associate) and Rukmini Mukherjee (Associate) assisted the transaction team in the due diligence exercise. Vivek Agarwal (Partner) advised on the competition law aspects of the transaction.
DMD Advocates advised the selling shareholders of Raksha Health Insurance TPA Private Limited (Raksha TPA), a company engaged in the business of delivering third party administration services to health insurance companies in India and Raksha TPA in relation to the closing of sale of 100% of their shareholding in Raksha TPA to Medi Assist Insurance TPA Private Limited.
Rashi Dhir, Senior Partner and Head of Corporate, was responsible for overseeing the deal and providing important strategic advice to the selling shareholders of Raksha TPA. He was assisted by Saiyam Chaturvedi, Associate Partner, along with Associates Harshit Kumer and Ela Bharti.
DMD Advocates advised Matrix Partners, Nexus Venture Partners, and AdvantEdge Technology Fund with regards to their primary investment in Wootzwork Labs Private Limited (“Wootz.work”). This seed funding round, amounting to USD 3.5 million, witnessed participation from Matrix Partners and Nexus Venture Partners as lead investors, alongside 30 other angel investors, including notable figures such as Amakant Sharma (Livspace), Sanjiv Rangrass (ex-ITC), Vikrampati Singhania (JK Group), and the founders of Zetwerk.
Wootz.work, is a Delhi-based startup that aims to streamline cross-border buying experience for light engineering products through technology and ownership of the process from design to delivery. It is currently working with factories and Original Equipment Manufacturers in the UK across their growth, automation, and MRO phases, driving supply chain innovations and capital expenditure optimization.
The transaction for DMD Advocates was led by Rashi Dhir (Senior Partner and Head of Corporate) along with Pallavi Puri (Partner). Associates Aishwarya Gupta, Harshit Kumar, Rukmini Mukherjee, Arnav Mithal, and Ayushi Mukherjee assisted the team in conducting due diligence and providing support through the closing, post-closing, and ancillary phases.
DMD Advocates advised the selling shareholders of Raksha Health Insurance TPA Private Limited (Raksha TPA), a company engaged in the business of delivering third party administration services to health insurance companies in India and Raksha TPA in relation to the sale of 100% of their shareholding in Raksha TPA to Medi Assist Insurance TPA Private Limited. The transaction is subject to the approval of the insurance regulator, the IRDAI. This is set to be one of the biggest acquisitions in the TPA space.
Rashi Dhir, Senior Partner and Head of Corporate, was responsible for overseeing the deal and was involved in providing important strategic advice to the selling shareholders of Raksha TPA. The transaction was led by Sumit Sinha, Partner, along with Ashima Dewan, Counsel, and Sukanya Bhattacharya, Senior Associate.
Associates Arnav Mithal, Garima Thukral, Aditya Sharma, Aditi Kumari, and Ela Bharti assisted the transaction team with diligence and ancillary support.
The details of the transaction can be accessed at the link below:
https://lnkd.in/d4zxfaiS
DMD Advocates acted as legal counsels to Vahanna Tech Edge Acquisition I Corp, a special purpose acquisition company listed on Nasdaq, in relation to the proposed merger with Roadzen Inc., a global insurance technology company.
The transaction for DMD Advocates was led by Rashi Dhir (Senior Partner and Head of Corporate) along with Tarinee Sudan (Counsel), Priyanka Hazarika (Associate), Astha Jindal (Associate) and Aditi Kumari (Associate). Saiyam Chaturvedi (Counsel), Divay Rastogi (Principal Associate), Aditya Sharma (Associate), Sartthak Kapur (Associate), Ela Bharti (Associate) and Rukmini Mukherjee (Associate) assisted the transaction team in the due diligence exercise.
Partner Vivek Agarwal and Associate Divyansh Prasad advised on the competition law aspects of the transaction.
For details, click on the following link: https://lnkd.in/d–YgyaK
DMD Advocates represented and advised Prowess Advisors in (a) its foray into the fund management space by acquiring a majority stake in Acorn Fund Consultants Pvt Ltd from Centrum Group and its earlier partner on the platform, and (b) becoming a co-sponsor of Kalpavriksh Fund, a category II venture capital fund. Acorn presently manages Kalpavriksh Fund. An operational early-stage Fund, Kalpavriksh has investments across sectors such as nutraceuticals, green mobility, edtech and consumer business.
The transaction for DMD Advocates was led by Rashi Dhir, Senior Partner, Saiyam Chaturvedi, Counsel, and Divay Rastogi, Principal Associate.
Associates Priyanka Hazarika, Aditya Sharma, Astha Jindal, and Aditi Kumari assisted the team in the due diligence exercise.
DMD Advocates advised Matrix Partners, in relation to its exit from Chumbak Design Private Limited pursuant to its acquisition by G.O.A.T Brands PTE. LTD.
The transaction for DMD Advocates was led by our Partner, Sumit Sinha, along with Counsel, Ashima Dewan and Senior Associate, Sukanya Bhattacharya.
DMD’s corporate transactional and advisory practice group is headed by Senior Partner, Rashi Dhir.
https://lnkd.in/dUWrMyNM
DMD Advocates advised Matrix Partners, Kalaari Capital and Bharat Innovation Fund, investors in Infocredit Services Private Limited (Credit Vidya), a company providing technology and analytical solutions for the purpose of prospecting, credit underwriting, risk management, customer management and delinquency management, customer verification services etc., in relation to its 100% acquisition by Dreamplug Technologies Private Limited (Cred).
The transaction for DMD Advocates was led by our Partner, Sumit Sinha, along with Counsel, Ashima Dewan.
DMD’s corporate transactional and advisory practice group is headed by Senior Partner, Rashi Dhir.
The details can be accessed at the link below:
https://lnkd.in/dGj8PgU4
DMD Advocates advised Exploring Infinities Edtech Private Limited (Bhanzu), a global math learning platform founded in 2020 by Neelakantha Bhanu, in raising $15 million in Series A funding led by global investment firm Eight Roads Ventures. B Capital also invested in this round along with Lightspeed (an existing investor in Bhanzu).
The transaction for DMD Advocates was led by our Partner, Sumit Sinha, along with Counsel, Ashima Dewan, Senior Associate, Sukanya Bhattacharya and Associate Arnav Mithal. DMD’s corporate transactional and advisory practice group is headed by Senior Partner, Rashi Dhir.
The details can be accessed at the link below.
https://lnkd.in/dqvJNd3y
DMD Advocates acted for Matrix Partners in USD 2.4 million seed funding round of Ximkart.
The transaction for DMD Advocates was led by our Partner, Sumit Sinha, along with Counsel, Ashima Dewan, and Senior Associate, Sukanya Bhattacharya. Associates, Aditya Sharma, and Arnav Mithal assisted the team in the due diligence exercise. DMD’s corporate transactional and advisory practice group is headed by Senior Partner, Rashi Dhir.
The details can be accessed at the link below.
https://lnkd.in/ddJbinMA
DMD Advocates advised Matrix Partners, an investor in Testbook Edu Solutions Private Limited (Testbook) in relation to sale of its partial stake in Testbook to Bunch Microtechnologies Private Limited (Classplus), a B2B edtech company, and issuance of Series E CCPS to Matrix in Classplus.
The transaction was led by Sumit Sinha, Partner along with Ashima Dewan, Counsel and Arnav Mithal, Associate. DMD’s corporate transactional and advisory practice group is headed by Rashi Dhir, a Senior Partner at the Firm.
The details can be accessed at the link below.
https://lnkd.in/dEiDFfiu
DMD Advocates acted for Matrix Partners in USD 10 million seed funding round of Zippmat (Zippmat Private Limited).
The transaction for DMD Advocates was led by Sumit Sinha, Partner, who was assisted by Ashima Dewan, Counsel, and Sukanya Bhattacharya, Senior Associate. Associates, Aditya Sharma, Arnav Mithal, and Aditi Kumari, assisted the team in the due diligence exercise. DMD’s corporate transactional and advisory practice group is headed by Rashi Dhir, a Senior Partner at the Firm.
Read more at https://lnkd.in/dsJ2BYFN
DMD Advocates advised Matrix Partners, an existing investor of Blue Jay Finlease Private Limited (Ziploan), in relation to strategic partnership entered with Stride One for driving deeper penetration in the MSME credit space.
The transaction from DMD Advocates was led by Sumit Sinha, Partner and Ashima Dewan, Counsel. DMD’s corporate transactional and advisory practice group is headed by Rashi Dhir, a Senior Partner at the Firm.
Read more: https://lnkd.in/d4Yiw2KX