India Business Law Journal

30/07/2025

AMP, Touchstone act on Diageo India’s NAO Spirits purchase https://law.asia/diageo-india-nao-spirits-acquisition/

Touchstone Partners and AMP Legal have advised on Diageo India’s acquisition of a controlling stake in NAO Spirits for an enterprise value of INR1.3 billion (USD15.12 million).

Touchstone’s Yashasvi Mohanram led the team advising United Spirits and Diageo India, with support from Vaishnavi Sankar as well as Achint Jain and Aayushi Jain.

Aeka Advisors acted as financial advisers for United Spirits

AMP Legal advised the selling shareholders and NAO Spirits.

📲 IBLJ is now on WhatsApp! Follow now: https://whatsapp.com/channel/0029Va7Nmmm3gvWb4yJN2K0Q

29/07/2025

JSA, Anagram Partners and TT&A assisted IndiGrid, India’s first listed power sector infrastructure investment trust (InvIT), on its INR2.1 billion (USD244 million) acquisition of two major assets in the states of Karnataka and Rajasthan.

JSA’s Vishnu Sudarsan, alongside Shashank Vikram Singh and Kartikeya GS led the transaction team, with the support of Siddhant Thakar, Mehar Vasant and Priyanka Barik. Ravneet Gill, Vignesh Ravichandran and Komal Karnik assisted. The disputes and real estate teams also provided support.

JSA advised on the transaction’s structure, including the exit of joint venture shareholders, negotiating and finalising definitive agreements, and addressing project development and regulatory risks.

TT&A represented KNI India AS with Dushyant Bagga leading the team alongside Pooja Menon and Prerna Raturi.

Anagram Partners acted for ReNew Transmission Ventures, ReNew Solar Power and ReNew Energy Global.

📲IBLJ is now on WhatsApp! Follow now: https://whatsapp.com/channel/0029Va7Nmmm3gvWb4yJN2K0Q

JSA, Anagram Partners and TT&A assisted IndiGrid, India’s first listed power sector infrastructure investment trust (InvIT)...

29/07/2025

Lakshmikumaran & Sridharan has promoted 16 partners to executive partnership positions in seven offices across India to strengthen its leadership structure, and reflects its commitment to advancing legal excellence across its practice areas.

V Lakshmikumaran, managing partner at LKS, said, “These promotions are a testament to the extraordinary talent and dedication within our firm.

📲 IBLJ is now on WhatsApp! Follow now: https://whatsapp.com/channel/0029Va7Nmmm3gvWb4yJN2K0Q

Lakshmikumaran & Sridharan Attorneys has promoted 16 partners to executive partnership positions in seven offices across India...

29/07/2025

JSA, SAM and Agram advise on Theobroma Foods’ USD233m sale https://law.asia/jsa-sam-agram-theobroma-foods-sale/

JSA, Shardul Amarchand Mangaldas & Co (SAM) and Agram Legal have counselled on the INR20 billion (USD233 million) majority stake sale of Theobroma Foods to India’s largest private equity firm ChrysCapital.

JSA advised Theobroma Foods and its shareholders, including the promoters and ICICI Ventures, which will divest its entire 42% stake.

Vikram Raghani, Yashvi Singh and Rishabh Gupta led the JSA team, with support from Shubham Shahi and Darshin Parekh. The competition law and data privacy teams also assisted.

SAM’s Karun Prakash led the team acting for ChrysCapital.

Agram Legal’s Vaishali Sharma advised Theobroma’s promoter family comprising Kainaz Messman, Tina Wykes, Farokh Messman and Kamal Messman.

📲IBLJ is now on WhatsApp! Follow now: https://whatsapp.com/channel/0029Va7Nmmm3gvWb4yJN2K0Q

29/07/2025

The Competition Commission of India has launched an investigation into Asian Paints over alleged abuse of its dominant position in the market after receiving information from Birla Paints.

📲 IBLJ is now on WhatsApp! Follow now: https://whatsapp.com/channel/0029Va7Nmmm3gvWb4yJN2K0Q

The Competition Commission of India (CCI) has launched an investigation into Asian Paints over alleged abuse of its dominant position...

29/07/2025

In a significant policy shift that resolves a longstanding regulatory ambiguity about the issue of shares to foreign shareholders by companies in the prohibited sector, the Ministry of Finance has introduced the Foreign Exchange Management (Non-debt Instruments) (Amendment) Rules, 2025.

This amends rule 7 of the 2019 rules, which govern the acquisition of shares through rights or bonus issues. In what is now rule 7(2), Indian companies operating in sectors where foreign direct investment (FDI) is prohibited are allowed to issue bonus shares to their existing non-resident shareholders, provided that the shareholding pattern remains unchanged.

Bharath Reddy and Simran Jain at Cyril Amarchand Mangaldas explain new rules allowing bonus shares for non-resident shareholders in FDI-prohibited sectors.

📲 IBLJ is now on WhatsApp! Follow now: https://whatsapp.com/channel/0029Va7Nmmm3gvWb4yJN2K0Q

In a significant policy shift that resolves a longstanding regulatory ambiguity about the issue of shares to foreign shareholders...

28/07/2025

AZB & Partners, PwC & Associates, Jones Day and Parakram Legal have counselled on MMGY Global’s acquisition of Think Strawberries Luxury Travel Marketing for an undisclosed amount.

Vaidhyanadhan Iyer led the AZB & Partners team acting for MMGY Global, with support from Ashutosh Merchant and Priyasha Goyal. Jones Day also provided legal counsel, and PwC & Associates assisted on tax and accounting matters.

Parakram Legal counselled Think Strawberries on legal aspects of the deal, while Rakesh Khanna & Associates and Deloitte guided on tax and transaction advisory issues.

📲IBLJ is now on WhatsApp! Follow now: https://whatsapp.com/channel/0029Va7Nmmm3gvWb4yJN2K0Q

28/07/2025

Trilegal, Hogan Lovells and Dentons Link Legal have advised on Indian Renewable Energy Development Agency’s (IREDA) qualified institutional placement (QIP), raising USD235 million for the Navratna public sector enterprise under India’s Ministry of New and Renewable Energy.

Hogan Lovells acted as international counsel for the book running lead managers IDBI Capital Markets & Securities, BNP Paribas, Emkay Global Financial Services, Motilal Oswal Investment Advisors and SBI Capital Markets. Dentons Link Legal acted as Indian counsel. Trilegal represented IREDA.

📲IBLJ is now on WhatsApp! Follow now: https://whatsapp.com/channel/0029Va7Nmmm3gvWb4yJN2K0Q

Trilegal, Hogan Lovells and Dentons Link Legal have advised on Indian Renewable Energy Development Agency’s (IREDA)...

28/07/2025

CAM, Khaitan act on Adani sale to Singapore’s Lence https://law.asia/adani-wilmar-exit-deal/

Cyril Amarchand Mangaldas (CAM) and Khaitan & Co have advised on the Adani Group’s exit from its fast-moving consumer goods joint venture with Wilmar International in an USD832 milion sale to Singapore-registered Lence.

CAM acted for Adani Enterprises and Adani Commodities on the latter’s sale of up to 20% of its shareholding in joint venture AWL Agri Business, formerly known as Adani Wilmar, to Lence for USD832 million, a wholly owned subsidiary of Wilmar International.

The CAM team also acted for Adani Commodities in the disposal of its equity shares in AWL through a block deal executed via the Bombay Stock Exchange.

The core CAM transaction team comprised Anchal Dhir and Jay Parikh, who had the support of Ayushi Toshniwal, Varun Kannan and Priyamvada Sharma. The capital markets and competition practice teams also provided assistance.

Khaitan & Co acted for Lence, which is a subsidiary of Wilmar International and a promoter entity of AWL Agri Business.

📲IBLJ is now on WhatsApp! Follow now: https://whatsapp.com/channel/0029Va7Nmmm3gvWb4yJN2K0Q

28/07/2025

We sign contracts routinely, often undervaluing their significance until conflicts occur. Here are five crucial do’s and don’ts every contractor must consider.

Suruchi Kotoky at Kochhar & Co discusses the contract smart: Five dos and don’ts for contractors.

📲IBLJ is now on WhatsApp! Follow now: https://whatsapp.com/channel/0029Va7Nmmm3gvWb4yJN2K0Q

We sign contracts routinely, often undervaluing their significance until conflicts occur. Here are five crucial do’s and don’ts...

28/07/2025

Nishant Sogani and Zubin Poovathinkal have been promoted to the role of partner at Chandhiok & Mahajan’s offices in Mumbai and Hyderabad, respectively.

Poovathinkal, who is based at the firm’s Hyderabad office, has more than 10 years of courtroom experience across trial and appellate levels.

📲 IBLJ is now on WhatsApp! Follow now: https://whatsapp.com/channel/0029Va7Nmmm3gvWb4yJN2K0Q

Nishant Sogani and Zubin Poovathinkal have been promoted to the role of partner at Chandhiok & Mahajan’s offices in Mumbai and Hyderabad...

28/07/2025

Firms guide Anthem Biosciences’ USD359m IPO on BSE, NSE https://law.asia/anthem-biosciences-ipo/

Cyril Amarchand Mangaldas, Trilegal and White & Case LLP have counselled parties involved in Anthem Biosciences’ initial public offering, raising INR33.95 billion (USD395 million) on the Bombay Stock Exchange and the National Stock Exchange of India.

Trilegal acted for Anthem Biosciences and certain shareholders on India law. Richa Choudhary led the team with the support of Maitreya Rajurkar and Avanti Kale, Sanya Chaudhari and Shivayana Balodia, as well as Anushri Maskara, Siddhant Mishra and Anay Jain.

Cyril Amarchand Mangaldas advised the book running lead managers — JM Financial, Citigroup Global Markets India, JP Morgan India, and Nomura Financial Advisory and Securities (India) — in connection with the IPO.

White & Case acted as international legal counsel.

Reuben Chacko and Vartika Jain led the team, with assistance from Bhaskar Kumar, Dhruv Sharma, Prakhar Jain, Joe George and Raksh*tha V.

📲IBLJ is now on WhatsApp! Follow now: https://whatsapp.com/channel/0029Va7Nmmm3gvWb4yJN2K0Q