Shantanu Jindel

  • Partner
  • +91 11 4937 0630
  • Gurugram
Shantanu Jindel, Partner, JSA

Shantanu’s practice covers diverse areas of general corporate, mergers and acquisitions and private equity investments. He has been representing multinational companies in various cross-border transactions, advising on foreign direct investments, outbound investments, joint ventures, technology transfers and commercial contract issues.

Shantanu’s work experience includes advising Indian and foreign parties on private equity investments in India and on various issues arising out of the exchange control laws, Companies Act and sector specific laws.

He has special interest in the niche areas of pharmaceuticals and medical devices and has assisted clients in some of the very prominent deals in the past. Prior to joining JSA, Shantanu has had the experience of practising before the Supreme Court of India and the High Court of Delhi.



Bar Council of Delhi



  • Get thee behind India, India Inc, The Economic Times, April 23, 2020.
  • Health cess is discriminatory, The Financial Express, February 26, 2020.
  • ePHARMACIES’ time has come, The Financial Chronicle, October 12, 2018.
  • Budget 2018: Why the new FDI rules could prove to be a damp squib, Moneycontrol, Jan 23, 2018.
  • National health policy: Why this is no country for old people, The Financial Express, July 25, 2017.
  • Homeward bound, The Financial Express, December 25, 2015.
    FDI policy 2015 falls short of expectations, Business Today, June 12, 2015.
  • Towards an investor-friendly regime, The Financial Express, May 12, 2015.
  • Liberalisation of FDI: A shot in the arm for medical devices industry, Business Today, Jan 21, 2015.
  • Taking the pulse of FDI in medical devices, The Financial Express, Dec 8, 2014.
  • FVCI Investments – The Filings Conundrum! Moneycontrol, Dec 2, 2013



B.A. LL.B., National University of Juridical Sciences



  • English
  • Hindi

Some of the key assignments are as follows:

  • Advised GTI Mediventures, Mauritius in connection with the sale of shares held by GTI in Nova Medical Centres Private Limited to Asia Healthcare Holdings Pte. Ltd.
  • Advised Affirma Capital (earlier Standard Chartered Private Equity) in the acquisition of significant minority stake in the share capital of Tirupati Medicare Limited by TBO Korea Holdings Limited and Augusta Investments Zero Pte Ltd. (affiliates of Affirma Capital). The transaction value was approximately INR 2.5 billion.
  • Advised the promoters of Ban Labs Private Limited in relation to the sale of the business undertaking engaged in manufacture of haircare products (under the brand name Sesa) to a True North (a private equity fund) entity. The deal value for this transaction was INR 11.15 billion.
  • Advised Tulip Group on the sale of the group entities by its promoters to PerkinElmer (PKI), being an entity listed on the New York Stock Exchange. The deal value for this transaction was approximately USD 150 million.
  • Advised the Taparia Family (promoters of Famy Care Limited) and Ajay Lal (erstwhile senior member of the management team of private equity fund – AIF Capital and director on the Board of Airtel) in relation to their investment in Guardian Nutrition and Healthcare Private Limited (GNHPL).
  • Advised Judges Scientific PLC with respect to its acquisition of Heath Scientific Company Limited (HSCL). HSCL has a joint venture company in India (KAN THT) with Kagaku Analys Aktiebolag.
  • Advised Redpine Signals Inc. (Redpine) with respect to India leg of the transaction which involved sale of assets to Silicon Laboratories Inc. (Silicon Labs).
  • Advised Air Water Inc., Japan and Air Water India Private Limited in the acquisition of business undertaking engaged in the manufacturing, distributing and selling specialty industrial gases, from Linde India Limited. The transaction value was INR 13.8 billion.
  • Advised Air Water Inc., Japan and Air Water India Private Limited in the acquisition of business undertaking engaged in manufacturing, distributing and selling specialty industrial gases, from Praxair India Private Limited. The transaction value was INR 15.25 billion.
  • Advised Omax Autos Limited in its sale of identified assets (including movables and immovables) to Hema Engineering Industries Limited by way of an asset purchase agreement.
  • Advised PayU Global B.V. on the India leg of the transaction wherein PayU acquired Wibmo Inc. (a California based corporation). The total deal value was approximately USD 70 million.
  • Assisted DHR Holding India Private Limited and Nobel Biocare India Private Limited in the sale of DHR India’s dental business to Nobel Biocare. Both DHR India and Nobel Biocare were part of the Danaher group.
  • Advised Blue Yonder, Inc. (Blue Yonder) in the acquisition of the Indian subsidiary of Yantriks, LLC – Yantriks India Private Limited (Yantriks India).
  • Advised Tiger Global on its investment of approximately INR 1 billion in Open Financial Technologies Private Limited.
  • Advised Japan based Takii and Company Ltd. in relation to its proposed joint venture with Thailand based Chia Tai Co. Ltd.
  • Advised Bibus AG in the acquisition of the stake of the joint venture partners in Bibus Horizon Mechatronics & Automations Private Limited.
  • Advised Standard Chartered Private Equity (Mauritius) II Limited, Ashoka Investment Holdings Limited, and Ambadevi Mauritius Holding Limited in relation to their exit from Firepro Systems Private Limited.
  • Advising First Fiddle Group (owning flagship restaurant chains) in its group internal re-structuring and fund raising exercise.
  • Advised Ozone Propex Private Limited in its acquisition of CCDs of its subsidiary Ozone Urbana Infra Developers Private Limited from Avronest Limited (a Cyprus based private equity fund).
  • Advised Xavient Infotech Private Limited, Xavient Software Solutions (India) Private Limited and its promoters, in relation to investment (direct and indirect) by TELUS International (Cda) Inc., a Canadian telecommunications company.
  • Advised Chand Industry in the sale of its undertaking engaged in the business of manufacturing and supplying plastic injection molded products and fasteners for two-wheel and construction vehicles, to Stanley Engineered Fastening India Private Limited.
  • Advised Bhartiya Urban Infrastructure and Land Development Company (Bhartiya) and its promoters in the exit by private equity fund IL&FS Investment Managers from their investment in Bhartiya City, a 125 acre integrated township project in Bangalore.
  • Advised Xylem Seeds Private Limited (a DuPont group entity housing its cotton seed portfolio in India), and its shareholders in relation to the sale of the entire shareholding of Xylem to Tierra Agrotech Private Limited.
  • Advised Teikoku Electric Mfg. Co. Ltd., a Japanese public listed company, in relation to its investment in Hydrodyne (India) Private Limited.
  • Advised the Danaher Group on the India leg of restructuring for its various operating entities, and assisted in various steps at the Japan and, Singapore level, involving the Indian entities of the Danaher Group.
  • Advised the shareholders of Lilac Medicare Private Limited in their 100% sale of the shareholding of Lilac to Tosoh Corporation (Japan) and Tosoh Asia Pte. Ltd. (Singapore).
  • Advised Air Water Inc., a Japanese entity in its acquisition of a majority stake in Ellenbarrie Industrial Gases Limited, a company listed on the Calcutta Stock Exchange.
  • Advised HAV2 (Mauritius) Limited (HAV2), a SEBI registered FVCI, in its exit from Newgen Software Technologies Limited pursuant to the sale of its shares to Ascent India Fund III (Ascent) and IDG Ventures India Fund II LLC (IDGVI).
  • Advised Mayfield FVCI, Ltd in its acquisition of a significant minority stake in BTB Marketing Private Limited, a company which runs the Beer Café chain in India.
  • Advised Italian auto-component manufacturer Streparava Holding s.p.a. in its exit from Sansera Engineering Private Limited, pursuant to Citigroup Venture Capital International’s acquisition of a substantial stake in Sansera for an aggregate consideration of INR 3.40 billion.