Jerome Merchant And Partners: Deal Reporting From July 2018 to March 2019.

Legal News & Analysis - Asia Pacific - India

12 April, 2019

 

  1. India Infoline Limited (IIFL) invests approximately Rs 83 crores (approximately USD 12.5 million) in packaging manufacturing company, Parksons Packaging Limited

 

IIFL Special Opportunities Fund, an investment arm of India Infoline Limited, invests approximately Rs 83 crores in Parksons Packaging Limited, a public company in the business of manufacturing of cartoons and other customized packages for various business conglomerates

 

Role - Jerome Merchant + Partners, Mumbai advised IIFL

 

Members of JM+P team: The team was led by Partner Sameer Sibal along with Associates Minal Sangatwani and Rishabh Gupta  

 

Other Legal Advisor : Samvad, Mumbai advised the Company, Parksons Packaging Limited

 

Members of Samvad, Bangalore team: The team was led by Partner Vineetha M G along with associates Mahima Bansal and Chitra Jha

 

Closing Date: March 2019

 

  1. Naspers Ventures, SCI Investments and VH Capital XI invests approximately Rs 101 crores (approximately USD 15 million) in ‘Quickride’ which operates a bike and car pooling platform 

 

Naspers Ventures B.V., fund based out of Netherlands, SCI Investments V and VH Capital XI, funds based out of Mauritius, invested approximately Rs 101 crores in Quickride, operated by iDisha Info Labs Private Limited. The investee company is primarily in the business of developing mobile applications relating to car and bike pooling platform connecting ride givers and ride takers

 

Role - Jerome Merchant + Partners, Mumbai advised VH Capital XI

Members of JM+P team: The team was led by Partner Sameer Sibal along with Associates Ankur Gupta and Rishabh Gupta  

 

Other Legal Advisor 1: A K Law Chambers advised the Company, iDisha Info Labs Private Limited

Members of A K Law Chamber team: The team was led by Partner Goda Raghavan along with associate Smriti Krishnan

 

Other Legal Advisor 2: Trilegal advised Naspers Ventures B.V.

Members of Trilegal team: The team was led by Partners Yogesh Singh and Upasana Rao along with associates Dhruv Chatterjee and Avantika Kulshrestha

 

Other Legal Advisor 3: Themis Associates advised SCI Investments V

Members of Themis Associates team: The team was led by Partner Archan Chakraborty along with associate Ayush Mohan

 

Closing Date: January 2019

 

  1. Seven Rivers Capital (SRC) along with its affiliates invests in Qi Healthcare

 

Qi Healthcare, a company in healthcare sector raised a fresh round of funding from its existing investors, Seven Rivers Capital and its affiliates funds

Role - Jerome Merchant + Partners advised both the existing investors and the Company in relation to raising of funds

 

Members of JM+P team: The team was led by Partner Sameer Sibal along with Associate Rishabh Amber Gupta

 

Closing Date: December 2018

 

  1. IMCD successfully completes acquisition of Indian specialty chemicals distributor Aroma

 

IMCD N.V, a leading distributor of specialty chemicals and food ingredients has completed the acquisition of 100% of the outstanding shares of Aroma Chemical Agencies (India) Pvt. Ltd. and Alchemie Agencies Pvt. Ltd, for upto INR 120 crores.

 

Role: Jerome Merchant + Partners advised Aroma and its promoters

 

Members of JM+P Team: The team was led by Partner Vishnu Jerome and Associate Minal Sangatwani

Other Legal Advisors: Bharucha & Partners advised IMCD. The team was led by partner, Justin Bharucha.

https://www.globenewswire.com/news-release/2018/11/14/1651080/0/en/IMCD-successfully-completes-acquisition-of-Indian-specialty-chemicals-distributor-Aroma.html

 

Closing Date: November 2018

 

5.   Foodtech Startup Box8 Raises funds In Series C Round

 

Jerome Merchant + Partners advised the existing investors of Box8, Mayfield Partners and India Infoline on Box 8’s Series C capital raise

 

Role: Jerome Merchant + Partners advised Mayfield Partners and India Infoline

 

Members of JM+P Team: The team was led by Partner Vishnu Jerome and Associate Ravishankar M

 

Other Legal Advisors: Vertices advised Box8 and TTA advised the incoming investor, Redefine Capital Fund.

 

https://inc42.com/buzz/exclusive-foodtech-startup-box8-to-raise-15-mn-in-series-c-funding-round/

 

Closing Date: February 2019

 

  1. Suryodaya raises funds through private placement
  2.  

Jerome Merchant + Partners advised the existing investor of Suryodaya Small Bank, Evolvence Capital, on Suryodaya’s private placement of INR 248 crores.

 

Role: Jerome Merchant + Partners advised Evolvence

 

Members of JM+P Team: The team was led by Partner Vishnu Jerome and Associate Ravishankar M

 

Other Legal Advisors: JSA advised Suryodaya Small Bank

 

https://www.thehindubusinessline.com/money-and-banking/suryoday-small-finance-bank-raises-248-cr-through-private-placement/article26717753.ece

 

Closing Date: March 2019

 

  1. Crestline: Acquisition of a multinational software company with operations in India and the US

 

Jerome Merchant + Partners represented Crestline Direct Finance, as Indian counsel, in connection with a $50 million loan facility provided for the acquisition of a multinational software company with operations in India and the US.

 

Role: Jerome Merchant + Partners advised the lenders, Crestline Direct, on Indian law issues

 

Members of JM+P Team: The team was led by Partner Vishnu Jerome and Associate Ravishankar M

 

Other Legal Advisors: Jones Day advised the lenders, Crestline Direct, on US law issues

                                       Paul Hastings advised the acquirers, on US law issues

                                       Trilegal advised the acquirers, on US law issues

 

Closing Date: December 2018

 

  1. GE: Sale of the small industrial motors business

 

Jerome Merchant + Partners advised General Electric Company on Indian  law issues related to the sale of the small industrial motors business of its Power Conversion division to Wolong Electric Group Co., Ltd.

 

Role: Jerome Merchant + Partners advised GE, on Indian law issues

 

Members of JM+P Team: The team was led by Partner Vishnu Jerome and Associate Ravishankar M

 

Other Legal Advisors: Jones Day advised GE on US, EU and other offshore laws

 

http://www.globaltimes.cn/content/1109063.shtml

 

Closing Date: July 2018

 

  1. Euromoney: Acquisition of Deal LLC from its Parent Company

 

Jerome Merchant + Partners advised Euromoney PLC on Indian  law issues related to the acquisition of Deal LLC from its parent, the Street LLC

 

Role: Jerome Merchant + Partners advised GE, on Indian law issues

 

Members of JM+P Team: The team was led by Partner Vishnu Jerome and Associate Ravishankar M

 

Other Legal Advisors: Clifford Chance advised Euromoney on US, UK and other offshore laws

 

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/ERM/13969235.html

 

Closing Date: February 2019

 

  1. Crestline: Acquisition of a multinational healthcare company with operations in India and the US

 

Jerome Merchant + Partners represented Crestline Direct Finance, as Indian counsel, in connection with a $100 million loan facility provided for the acquisition of a multinational healthcare company with operations in India and the US.

 

Role: Jerome Merchant + Partners advised the lenders, Crestline Direct, on Indian law issues

 

Members of JM+P Team: The team was led by Partner Vishnu Jerome and Associate Ravishankar M

 

Other Legal Advisors: Jones Day advised the lenders, Crestline Direct, on US law issues.

                                      Paul Hastings advised the acquirers, on US law issues

                                      Trilegal advised the acquirers, on US law issues

 

Closing Date: March 2019

 

  1. Investment by Evolvence India Fund II Limited in Faasos

 

Jerome Merchant and Partners advised Evolvence India Fund II Limited in connection with its investment in Faasos.

 

Role: Jerome Merchant + Partners advised Evolvence India Fund II Limited

 

Members of JM+P Team: The team was led by Partner Murtaza Somjee and Associate Minal  Sangatwani

 

Other Legal Advisors:

 

Shardul Amarchand Mangaldas for Faasos

Themis Associates for Sequoia Capital  

J Sagar Associates (JSA) advised Sistema Asia Fund led by Partner Sidharth      Shankar, principal Associate Prakriti Jaiswal and associates Sampurna Nayak and Shweta Gupta.

Shardul Amarchand Mangaldas  acted as the legal counsel to Faasos. The venture capital team was represented by Partner Siddharth Nair along with senior Associate Asmita Mishra. Nair had joined SAM after it merged with BMR, which had previously advised Faasos on its fundraisings.

Themis Associates advised existing investor Sequoia Capital in the transaction, led   by a team including Partner Amritha Salian, Senior Associate Alimpan Chatterjee.

Link Legal acted for existing investor Ru-Net, led by a team    including Partner Manish Gupta, Senior Associate Sanya Haider and associate Ashish Ahluwalia.

 

Closing Date: March 2019

                                      

  1. Amazon Pay : Tapzo

 

Jerome Merchant + Partners, advised Tapzo and its founders in its sale of its multi service application   assistant platform in a cash and stock deal.

 

Role: Jerome Merchant + Partners advised Tapzo and its founders

 

Members of JM+P Team: The team was led by Partner, Vishnu Jerome and Associate Ravishankar M

Other Legal Advisors :Cyril Amarchand advised Amazon Pay and was led by Partner Arun Prabhu and Themis Associates advised the exiting investor, Sequoia.

https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/amazon-pay-acquires-personal-assistant-platform-tapzo/articleshow/65586652.cms

 

Closing Date: June 2018

 

  1. IIFL and Morgan Stanley Private Equity Fund invests in Kogta Financial (Retail lending NBFC)

 

Retail focused NBFC entity, Kogta Financial (India) Limited, raised a fresh round of funding from the existing investor, IIFL Seed Ventures and the new investor, Morgan Stanley Private Equity Asia-managed fund. The total investment size was INR 154 crores (approximately USD 22 million) wherein IIFL invested INR 40 crores and Morgan Stanley invested INR 114 crores.   

 

Role - Jerome Merchant + Partners advised IIFL Seed Ventures

 

Members of JM+P team: The team was led by partner Sameer Sibal along with associates Anna Liz Thomas and Rishabh Amber Gupta.

 

Other Legal advisor 1: Trilegal advised the Company (Kogta Financial (India) Limited)

 

Members of Trilegal team: The team was led by partner Kunal Chandra along with senior associate Harshil Dalal and associates Akshat Shrivastava and Akriti Gupta.

 

Other Legal advisor 2: Shardul Amarchand Mangaldas (SAM) advised Morgan Stanley

 

Members of SAM team: The team was led by partner Nivedita Tiwari along with associate Rajashree Ravi.

 

Closing Date: November 2018

 

https://tech.economictimes.indiatimes.com/news/startups/retail-focused-finance-firm-kogta-financial-secures-rs-154-cr-funding/66856835

 

  1. Centrum Financial Services Ltd – L&T Finance Ltd

 

Centrum Financial Services Ltd, the NBFC arm of the Centrum Group, entered into an agreement with L&T Finance Ltd for the acquisition of L&T Finance Ltd’s supply chain finance business comprising a loan book of approximately Rs. 800 crore

 

Role - Jerome Merchant + Partners advised Centrum Financial Services Ltd

 

Members of JM+P team: The team was led by partners Sameer Sibal and Vishnu Jerome along with associates Ankur Gupta, Anna Liz Thomas, Ravishankar M and Rishabh Amber Gupta.

 

Other Legal advisors: Cyril Amarchand Mangaldas advised L&T Finance Ltd

 

Members of CAM team: The team was led by partners Ramanuj Kumar and Ajay Sawhney

 

Closing Date: December 2018

 

  1. IIFL buys majority stake in a housing finance company

 

IIFL India Private Equity Fund, an investment arm of India Infoline Limited, has acquired a majority stake of 75% in Kadaeishwar HomeFin Private Limited, a housing finance company for a consideration amount of INR 100 crores.

 

Role - Jerome Merchant + Partners advised IIFL

 

Members of JM+P team: The team was led by Partner, Sameer Sibal along with Associates Rishabh Gupta and Shaleen Tiwari.

 

Other Legal Advisors: Dua Associates advised Kadaeishwar HomeFin Private Limited

 

Members of Dua Team: The Dua Associates, Bengaluru team

 

Closing Date: August 2018

 

  1. Faasos Funding

 

On-demand food delivery platform Faasos Food Services Private Limited raised fresh funding from Evolvence India Fund II, Lightbox Ventures II, Lightbox Expansion Fund, Sequoia Capital India and RuNet South Asia

 

Role - Jerome Merchant + Partners advised Evolvence India Fund II

 

Members of JM+P team: The team was led by Partner Murtaza Somjee along with Associate Minal Sangatwani

 

Other Legal Advisors: Shardul Amarchand and Mangaldas advised Faasos Food Service Pvt. Ltd

 

Members of SAM team: The SAM team was led by Partner Siddhartha Nair along with Senior Associate Asmita Mishra

 

Other Legal Advisors: Themis Associates advised Sequoia Capital India

 

Members of Themis team: The Themis team was led by Associate Partner Amritha Salian

 

Closing Date: August 2018

 

  1. IIFL India Private Equity Fund – Infigo Lifesciences Private Limited

 

IIFL India Private Equity Fund, an investment arm of India Infoline Limited, has acquired a majority stake in Infigo Lifesciences Private Limited, a company engaged in the business of establishing comprehensive eye care centers / hospitals, for a consideration amount of INR 25 crores

 

Role - Jerome Merchant + Partners acted as transaction counsel and advised IIFL India Private Equity Fund and Infigo Lifesciences Private Limited

 

Members of JM+P team: The team was led by Partner Vishnu Jerome along with Associate Ravishankar M

 

Closing Date: July 2018

 

  1. International Finance Corporation – Mahindra World City (Jaipur) Ltd

 

Investment by International Finance Corporation (IFC), a member of the World Bank Group of INR 194 crores in Mahindra World City (Jaipur) Ltd, a subsidiary of Mahindra Lifespace Developers Ltd., the real estate and infrastructure development arm of the Mahindra Group, for the development of an industrial park.

 

Role - Jerome Merchant + Partners advised Mahindra World City (Jaipur) Ltd and Mahindra Lifespace Developers Ltd

 

Members of JM+P team: The team was led by partner Vishnu Jerome along with associate Ravishankar

 

Other legal advisors – Trilegal advised International Finance Corporation

 

Members of Trilegal team: The team was led by Partner Ravindra Bandhakavi along with counsel Dushyant Kumar and associate Poornima Singh

 

Closing Date: August 2018

 

https://www.business-standard.com/article/news-cm/ifc-to-invest-up-to-rs-200-crore-in-mahindra-world-city-118062000898_1.html

 

  1. Online lending platform SMECorner raises 90 crore (approximately USD 13.5 million) in the form of equity and debt from Quona, other existing investors and certain lenders

 

Digital lending company, SME Corner, operated by DigiKredit Finance Private Limited  has raised Rs 90 crore in fresh funding which is a mix of debt financing and equity funding.

Accion Frontier Inclusion Mauritius managed by Quona Capital invested Rs 35 crore by way of equity capital, the other existing investors of the Company including Accion Venture Lab invested Rs 10 crore in equity funding round. Apart from the equity funding, Northern Arc and Vivriti Finance contributed Rs 45 crore by way of debt funding.

 

Role - Jerome Merchant + Partners, Mumbai advised the Company (SMECorner)

 

Members of JM+P team: The team was led by Partner Sameer Sibal alongwith Associate Rishabh Gupta.  

 

Other Legal Advisor 1: Tatva, Bangalore advised Accion Frontier Inclusion Mauritius managed by Quona Capital

Members of Tatva, Bangalore team: The team was led by Partners Manav Nagaraj, Bhargava KS alongwith senior associate Junaid Ahmed

 

Other Legal Advisor 2: Tatva, Mumbai advised Accion Venture Lab

 

Members of Tatva, Bangalore team: The team was led by Partner Anu Iyer alongwith associate Amol Chitnis

 

Closing Date:  March 2019