Deal Updates

JK Paper Limited has entered into a share purchase agreement (SPA) for acquiring 100 percent equity shares of Manipal Utility Packaging Solutions Private Limited (MUPSPL) for ₹88.73 crore. JK Paper will acquire 4.07 crore equity shares representing 100 percent of the capital of MUPSPL as per the SPA. The closing/acquisition is expected to be completed […]

Bangalore, July 24: Last year Bharti Airtel (“Airtel”) announced plans for its subsidiary Nxtra Data Limited (“Nxtra”) to deploy low environmental impact fuel cell installation at its data center in Karnataka, making Nxtra the first data center company in India to deploy fuel cell technology to reduce carbon emissions at its data centers. Dua Associates, […]

New Delhi, March 2022: Dua Associates advised and assisted SBICAP Ventures Limited’s SWAMIH Investment Fund-I in its Rs 362 crore funding of Kashish Developers Limited for the Gurugram-based residential project – Manor One. This transaction once again underscores the role of the Investment Fund as a significant player in the last-mile funding of the stressed […]

New Delhi, March 2022: Pavion (formerly Corbett Technology Solutions, Inc. “CTSI”), a leading provider of integrated solutions for fire, safety, security, and critical communications, has acquired Netronix Integration (“Netronix”). The acquisition was completed on February 28, 2023, and is expected to strengthen Pavion’s knowledge and service delivery in security technologies, such as access control, video […]

New Delhi, March 2022: mphrX which is engaged in transforming the world of healthcare through continuous digital innovation and value-based care technology was acquired by agilon health (NYSE: AGL). The transaction closed on February 28, 2023 and represents a $45 million investment by agilon. Dua Associates’ team of Partners Prateek Bedi and Angad Varma, Senior […]

In a recently concluded transaction, Dua Associates advised Bel Group, a world leader in branded cheese in its Joint Venture with Britannia Industries. The Firm’s team led by Partners, Salil Gulati, Shailendra Singh Somvanshi and Sahil Dhawan acted on behalf of Bel Group on all the legal aspects of this deal and also assisted in successfully closing […]

New Delhi August 25, 2022: The affordable housing segment has been among the front runners in terms of growth in the real estate sector. Dua Associates advised and assisted SBICAP Ventures Limited as the investment manager of SWAMIH Investment Fund I, in relation to its funding of Nav Grih Developers Private Limited for the stalled […]

New Delhi, August 2022: BLS E- Services Private Limited (BLS) acquired close to 90 per cent equity shares of Zero Mass Pvt Ltd (ZMPL) for a total consideration of Rs 106.44 crore, including the entire stake of 63.94 per cent held by the main promoter Anurag Gupta. Dua Associates’ team led by Partner, Prateek Bedi […]

Real estate sector has weathered the impact of the pandemic and now making a strong comeback. In line with this, Dua Associates’ Mumbai office has acted for Alliance Mall Developers Pvt Ltd which is in the Real Estate and Renting business, (a subsidiary of publicly listed Prozone Intu Properties Limited) in raising INR 900 million […]

Dua Associates’ Mumbai team led by Partners Anish Ghoshal and Pramod Gharge; Principal Associates Ruchika Sidhwani, Ravindra Mangire, and Rajat Agarwal; and Sr. Associate Chirashree K. acted on behalf of Edwards Limited, a UK based company and a group entity of Atlas Copco, in acquiring the entire shareholding of HHV Pumps Private Limited, a company […]

Dua Associates gets a flying start to 2022 with the completion of the JV transaction between Hughes Communications India Private Ltd (HCIPL) and Bharti Airtel Limited. The deal team comprising of Partners Sita Khosla, Vikram Dhokalia and Nirvaan Gupta from Dua Associates advised Hughes Communications India Private Ltd (HCIPL) and its associate companies in relation to […]

Dua Associates, assisted QuEST Global Services-NA, INC. in its acquisition of Synapse Design Automation, INC. and its subsidiaries across various jurisdictions in South East Asia. Synapse Design Automation, INC. was engaged in the business of designing software for semiconductor chips and manpower deployment in this area of work. Synapse Design Automation, INC. has established subsidiaries […]

Ushering in the festive season, Dua Associates closed a widely reported acquisition transaction on 14th October, 2021.   Partners Sita Khosla and Nirvaan Gupta acted as legal advisors and counsel to Ritika Private Limited – the firm owned by one of India’s oldest and most highly regarded fashion designers, Ritu Kumar, and the Promoters (namely, their […]

SWAMIH Fund (being a Government of India initiative, to provide last mile funding to projects that are stalled owing to lack of funds) granted a loan of Rs. 360 Crores to Mantri Group, for their residential project “Mantri Serenity”. This Project has an existing lender i.e. Piramal Capital Finance and the Land Owners of the […]

Dua team represented and assisted the Promoters of EPPL, a Chandigarh based Company, engaged in the business of designing, developing, manufacturing and selling all kinds of corrugated packages, cardboard boxes, in its transaction involving sale of 80% equity stake to OJI, a $ 15 billion Japanese conglomerate, listed on the Tokyo Stock Exchange and a […]

Drone technology is ushering in the next big technology revolution primarily owing to the vast number of applications and use-cases.  In fact, the Ministry of Civil Aviation recently released the Draft Drone Rules, 2021 aimed at making India a leader in drone technology, a move which has been welcomed by both analysts and industrialists alike. […]

This transaction which has taken nearly two years to finalize, involves the acquisition of 72% of the shareholding in Manali Ropeways Private Limited by Dua Associates’ client GM Infratech Limited from TRIL Urban Transport Private Limited (TUTPL), a TATA group company. The deal was successfully concluded on August 31, 2020.  The team led by Mohd Iqbal Butt, Partner […]

Investments in environment friendly and sustainable projects are gaining traction and on trend is the latest transaction by Dua Associates Mumbai. The team led by Anish Ghoshal, Partner, Pramod Gharge, Partner and Rajat Agarwal, Principal Associate, closed a debt cum private equity investment transaction by Mitsui & Co. and NEEV Fund, an SBI Venture Capital […]

Dua Associates Bengaluru  has advised and assisted Aequs Infrastructures Private Limited in conducting due diligence and in acquisition of approximately 300 acres of land located in Koppal district, Karnataka, for the establishment of a toy manufacturing cluster, which will house all the vendors and principal manufacturers in one location. Once it is set up, this […]

Dua Associates, advised Kotak Securities Limited in acquiring 9.995% stake in Kredent Infoedge Private Limited, valued at INR 10.00 crores,  a first under their recently launched Start-Up Investment and Engagement Programme . The definitive documents were signed on July 6, 2021 and deal closure was on August 13, 2021. Through this strategic investment, KSL is […]

Dua Associates has represented and assisted ‘Vedicare Ayurveda Private Limited’, manufacturers of European certified organic beauty and personal care products, under the brand name “Soul Tree”, in its transaction involving sale of 100% equity stake to Lotus Herbals Private Limited (Lotus), on a fully diluted basis.  The transaction included preparation and finalization of ancillary arrangements […]

The team at Dua Associates front -ended by Partners Ranjana Kaul and Jay Badola worked with client Bengaluru-based spacetech startup Digantara,  in raising $2.5 million as part of their seed funding round from Kalaari Capital.  This start-up which is working on innovative, ground-breaking solutions in space surveillance and space situational awareness (SSA) i.e. keeping track […]

When Lease Plan India, a pioneer-leader in providing vehicle leasing services, was up against Zoomcar, another mobility company in the self-drive car rental space,  in a complex case involving contractual breach , it turned to its long-term legal advisor , Dua Associates .   The road to arriving at a resolution in favour of the […]

Dua  Associates advised and assisted Fourth Partner Energy in successfully raising  $125 million in equity funding from Norwegian Investment Fund – Norfund – and its existing shareholder, The Rise Fund, TPG’s global impact investing platform . This $100 million marks Norfund’s maiden investment into India’s leading solar energy company, while The Rise Fund’s investment of […]

Dua Associates recently concluded signing of a transaction involving SINCH AB, a Swedish listed company which entered into an agreement to acquire Indian firm, ACL Mobile Limited, for about $70 million (INR 5,350 million). Dua Associates represented ACL Mobile and the sellers of ACL Mobile, an enterprise communication platform provider of communication-based solutions. This was […]

Munish Sharma, Partner and his team comprising of Seema Salwan, Principal Associate, Rashi Jain, Associate and Adarsh Raj Singh, Associate with inputs from Anil Agrawal, Partner, Sunil Malik, Senior Advisor, and Punish Arora, Partner, closed the following transactions for Power Finance Corporation (PFC), a specialized Financial Institution in the power sector. Assistance in providing a […]

The National Company Law Tribunal, Principal Bench, New Delhi (NCLT) has, by its order pronounced on March 23, 2021, sanctioned a Composite Scheme of Arrangement (Scheme) amongst Hughes Communications India Private Limited (HCIPL), HCIL Comtel Private Limited (HCIL Comtel), Bharti Airtel Limited (BAL) and Bharti Airtel Services Limited (BASL), pursuant to which the very small […]

The firm advised and assisted SBICAP Ventures Limited’s SWAMIH Investment Fund I in the successful closure of three back-to-back deals valued at Rs 182 crores over February-March 2021.  This was preceded by another transaction in December 2020, of Rs 65 crores wherein the law firm acted as the legal counsel for the same SWAMIH Fund, scaling […]

Dua Associates Chennai assisted a Singapore-based investor in its investment of INR 1500 crores towards development of a Tech Park in Chennai, which is to be constructed on 23 acres of land with a total constructed area of 4.6 million sq.ft.  Front ended by Sajiv Kumar P.V – Partner, Dua Associates Chennai, the team comprising of […]

Dua Associates assisted Passion Gaming Private Limited, one of the leading online skill gaming companies in India, operating under the name ‘Rummy Passion’ in entering into Software Assignment Agreement and Restated Investment Agreement, for sale of stake share to UK based Stride Investment.  The team led by Siddhartha Kumar, Sunil Malik, Punish Arora, Simran Singh […]