Desai & Diwanji has advised India conglomerate Shapoorji Pallonji on the 44 billion rupees ($597 million) sale of controlling stake in its subsidiary Eureka Forbes, worth to U.S. private equity firm Advent International. AZB & Partners represented Lunolux.
India’s Phoenix Legal has hired Harsh Arora as a partner in Delhi from HSA Advocates.
Four law firms, including two of India's biggest, have bid to advise the state-run Life Insurance Corporation (LIC) on its mega stock offering, after New Delhi made the fee payment structure more attractive.
J Sagar Associates (JSA) has advised Indian used-vehicle platform Cars24 on its $450 million Series F funding round, with Goodwin Procter, Khaitan & Co and Trilegal advising various investors.
Indian law firm Phoenix Legal has hired Jatin Arora in Mumbai as the head of the firm’s indirect tax practice from Price Waterhouse & Co, where he was a principal.
India’s Argus Partners has added Rachika Sahay as a partner in the corporate and infrastructure team in Delhi from HSA Advocates.
Krishnamurthy & Co (K Law) and Shardul Amarchand Mangaldas have advised biopharmaceutical company Biocon on the $730 million sale of a 15 percent stake in subsidiary Biocon Biologics to Serum Institute of India (SII), which was represented by Veritas Legal.
Cyril Amarchand Mangaldas (CAM) has advised home loan company Aptus Value Housing Finance India on its 27.8-billion-rupee ($378 million) IPO, with S&R Associates and Sidley Austin counselling the book-running lead managers.
India's plans to list state-run Life Insurance Corporation (LIC) face an unusual problem: domestic law firms are shying away from advising the government, deterred by the low fees on offer at the time of a lucrative boom in corporate stock listings.