Sidharrth Shankar


Sidharrth’s practice covers diverse areas of Corporate Commercial, Mergers & Acquisitions and Private Equity investments. 

He has been representing multi-national companies in cross-border transactions, advising on foreign direct investments, outbound investments, Joint Ventures, technology transfers and commercial contract issues. He has also handled some of the Capital Market related transactions such as FCCBs (Foreign Currency Convertible Bond) and GDRs (Global Depositary Receipts). 

His work experience includes advising Indian and foreign parties on Private Equity investments in India and advising companies engaged in the Financial Services sector including non-banking financial services companies and brokerages. 

Some of the key assignments in these areas handled and being handled by Sidharrth amongst others cover the following: 

  • Advised and assisted Tiger Global and Ribbit Capital in the sale of a portion of their existing shareholding in Etechaces Marketing and Consulting Private Limited (“Etechaces”) held by them to Softbank group, Tencent and Steadview Capital.  
  • Advised Qoo10 Pte. Ltd., an e-commerce company based in Singapore, in its acquisition of 100% stake in Clues Network Inc., and its Indian subsidiaries, Clues Network Private Limited and Momoe Technologies Private Limited, operating the ecommerce platform under the brand name 'Shopclues'.  
  • Advised Snapdeal Private Limited, a company operating an e-commerce platform in connection with acquisition of 100% of the shareholding of Newfangled Internet Private Limited, a company engaged in the business of online marketing and ecommerce. 
  • Advised Hain Celestial Group (Hain Group) in the Indian leg of the transaction which involved global sale of the Tilda rice business by the Hain Group to Ebro Foods S.A. 
  • 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.  
  • 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.  
  • Advised PayU Global B.V. on the India leg of the transaction wherein PayU will acquire Wibmo Inc. (a California based corporation). 
  • Advised and assisted The Rohatyn Group (India Clean Energy) in sale of shares held by it in Bhilwara Energy Limited to HEG LTD. 
  • Advised GTI Mediventures, Mauritius in connection with the proposed sale of shares held by GTI in Nova Medical Centres Private Limited to Asia Healthcare Holdings Pte. Ltd. 
  • 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 SCPEK IV, a fund managed by Standard Chartered Private Equity Managers Korea Limited in its proposed acquisition of significant minority stake in the share capital of Tirupati Medicare Limited. 
  • Advised Enel Green Power Development S.R.L. in connection with the acquisition of shares held by Bharat Light and Power Private Limited in Enel Green Power India Private Limited. 
  • Advised Omax Autos Limited in its sale of identified assets (including movables and immovables) to Hema Engineering Industries Limited (“Hema Engineering”) by way of an asset purchase agreement. 
  • Advised Naspers Ventures BV (Naspers) in the Indian leg of the transaction wherein Naspers participated along with other investors in the Series D funding round of Meesho. 
  • 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 (an affiliate of Affirma Capital). The deal value for this transaction was INR 2,500,000,000 (Rupees Two Billion and Five Hundred Million).  
  • Advised Tiger Global on its investment of approximately INR 1,000,000,000 (Rupees One Billion) in Open Financial Technologies Private Limited.  
  • Advised Nature’s Essence Private Limited, Nature’s Organics and Magikle Pharma Private Limited (“Nature’s Group”) in the acquisition of Nature’s Group by Samara Alternate Investment Fund. 
  • Advised Oman India Joint Investment Fund in the acquisition of shares of PnB Metlife India Insurance Company Limited from The J&K Bank Limited.  
  • Advised and assisted Mastercard International Inc. (Mastercard) in connection with the Indian leg of 100% share acquisition of Trans-Fast Remittance Inc. 
  • Advised the promoters of Ban Labs Private Limited (BLPL) 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. 
  • Advised the Naspers Group & Founders of TBO in the sale of 49.99% shares of Tek Travels Private Limited (“TBO”) to Standard Chartered Financial Holdings (part of Standard Chartered Private Equity group).  
  • Advised Avaana Capital Growth Fund I (Avaana) in its investment in Glitterbug 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 Sistema Asia Fund Pte. Ltd., a Singapore based venture capital fund which invests in high-tech companies in India and Southeast Asia, in connection with its investment in Series C5 round of funding in Faaso’s Food Services Private Limited. 
  • Advised Statkraft in connection with the acquisition of a hydro power company undergoing corporate insolvency resolution process. The assignment involved advising on structuring of the transaction pursuant to Insolvency and Bankruptcy Code, 2016 and drafting of the resolution plan. 
  • Advised Statkraft in connection with the acquisition of two companies operating two hydroelectric power projects, for an aggregate capacity of 212 MW. 
  • Advised Lupin Limited on the licensing of its pharma products to Mylan Ireland Limited and the subsequent commercialization. 
  • Advised Bibus AG in the acquisition of the stake of the joint venture partners in Bibus Horizon Mechatronics & Automations Private Limited. 
  • Advised Snapdeal in connection with its sale of 100% shares of its subsidiaries Freecharge Technologies Private Limited and Accelyst Solutions Private Limited, to Axis Bank Limited. 
  • Advised Lonza Group AG in relation to India leg of its acquisition of Capsugel S.A. from KKR for USD 5.5 billion, in cash, including refinancing of existing Capsugel debt of approximately USD 2 billion. 
  • Advised Bimbo Holanda (subsidiary of Grupo Bimbo) in connection with its acquisition of 65% share capital of Ready Roti India Pvt. Ltd (entity of Harvest Gold group).  
  • 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. 
  • Advised Tilda Hain India Private Limited (part of the Hain Celestial Group, USA) in relation to its joint venture with Future Consumer Limited, a listed company in India. 
  • Advised Au Financiers in its sale of up to 100% stake sale in its wholly owned subsidiary (Au Housing Finance Limited) engaged in housing finance business, to Kedaara Capital and Partners Group. 
  • Advised Sohan Lal Commodity Management Private Limited, its promoter Mr. Sandeep Sabharwal and Creation Investments Social Ventures Fund III in relation to the part sale of securities by some of the existing Shareholders to Responsability Participations Mauritius and Agrif Cooperatief UA. 
  • Advised the Taparia Family (promoters of Famy Care Limited including Ashutosh Taparia) 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 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. 
  • Advised Snapdeal in connection with sale of its minority stake in Macro Commerce Private Limited to the joint venture partner DEN Networks Limited, a publicly listed cable and broadband operator. 
  • Advising First Fiddle Group (owning flagship restaurant chains) in its group internal restructuring 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) in XIT and XSS 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 twowheel 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 Clearwater Capital Partners India Private Limited (now renamed as Altico Capital India Private Limited):  

o in an subscription to privately placed NCDs for an amount of ` 1 billion issued by Ramprastha Promoters and Developers Private Limited.  

o as the lender in relation to multiple term loan facilities of `300 million, `500 million and `600 million availed by Ramprastha Promoters and Developers Private Limited.  

  • Advised Annik Technology Services Private Limited in relation to the purchase of shares of Annik by LiquidHub, Inc. (a portfolio entity of ChrysCap) from the shareholders of Annik. 
  • 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 SohanLal Commodity Management Private Limited in its Series D round of Private Equity funding by two private equity/ venture capital funds, Creation Investments and Everstone Capital Partners II LLC. 
  • Advised BLP Energy Private Limited (Bharat Light and Power Group) in its fund raising exercise from Enel Green Power, Italian multinational renewable energy company. The deal size was approximately Rs. 2.5 billion. 
  • Advised Bharat Light and Power in its joint venture arrangement with Statkraft Markets B.V., which is a norwegian state owned electricity group which is a leading company in hydropower internationally.   
  • Advised Zophop Technologies Pte. Ltd (a Singapore company), and its Indian subsidiary, Zophop Technologies Private Limited, in relation to a primary investment received from angel investors and Series A investors. 
  • Advised Unlockd Media Pty Ltd in connection with its strategic alliance agreement with Smile Online Sales Service Private Limited. 
  • Advised India Alternatives Private Equity Fund in its investment in compulsorily convertible preference shares of Seclore Technology Private Limited (Seclore) as part of a Series C round financing into Seclore. 
  • Advised PVR Limited (PVR) a company listed on the BSE and the NSE, in its purchase of the entire equity and preference share capital held by L Capital Eco Ltd. (L Cap) in PVR Leisure Limited (PVR Leisure). 
  • Advised Nexus Ventures in its four rounds of private equity funding in SSN Logistics Private Limited (Delhivery), a company engaged in warehousing and last mile logistics services. Other private equity investors in the target company are Internet Fund III Pte Ltd. (Tiger Global), Times Internet Limited and Multiples Private Equity Fund. 
  • Advised the shareholders of Lilac Medicare Private Limited (Lilac) in their 100% sale of the shareholding of Lilac to Tosoh Corporation (Japan) and Tosoh Asia Pte. Ltd. (Singapore). 
  • Advised Tilda Riceland in selling its assets relating to the domestic sales and sourcing operations to Hain Celestial Group, Inc. The combined (UK and Indian) deal size is in excess of `22 billion (approx. US$ 362 million).   
  • Advised Air Water Inc. (AWI), a Japanese entity in its acquisition of a majority stake in Ellenbarrie Industrial Gases Limited (Target Company), a company listed on the Calcutta Stock Exchange. Post completion of the open offer process, AWI holds 51% in the Target Company for approximately ` 1.06 billion. 
  • 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). Ascent and IDGVI are funds based out of India and Mauritius, respectively. 
  • 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 PVR Limited (PVR), a company listed on the BSE and the NSE in relation to an investment made by L Capital Eco Ltd, an affiliate of L Capital Asia LLC (L Capital), for up to 10% of PVR’s equity share capital, under the preferential allotment route and in relation to an investment by L Capital in PVR Leisure Limited (a subsidiary of PVR); and in PVR’s corporate restructuring to facilitate this transaction.  
  • Advised Apollo International Ltd. and Apollo Logisolutions Ltd. (ALS) in relation to an investment by Flag Holding LLC, a UAE based company in the share capital of ALS.  
  • Advised Standard Chartered Private Equity (Mauritius) II Limited and Standard Chartered Private Equity (Mauritius) III Limited (collectively, SCPE) on its exit from Firepro Systems Private Limited (Firepro) as part of Panasonic Corporation’s investment in Firepro. Prior to the exit transaction, advised SCPE on its further subscription to the share capital of Firepro by way of a rights issue. 
  • Advised Standard Chartered Bank in its structured debt financing to Bhushan Steel Limited, a BSE and NSE listed company. 
  • Advised SohanLal Commodity Management Private Limited in its Series C round of Private Equity funding by four private equity/ venture capital funds, Nexus India Direct Investments II, Mayfield FVCI, Ltd, Everstone Capital Partners II LLC and Emerging India Fund. 
  • Advised Citi Venture Capital International (CVCI) in relation to its exit rights in two of its portfolio companies. The scope of work involved conducting an analysis of CVCI’s investment agreements with the portfolio companies and preparing a detailed memorandum, setting out enforceability of CVCI’s exit rights from a legal and regulatory perspective. 
  • Advised Zamil Industrial Investment Company (Zamil), a Saudi Arabia based manufacturing and construction major in its 100% strategic buyout of its Indian Joint Venture Partner - Advantec Coils Private Limited (ACPL). The transaction also involved advising Zamil on the transfer of business of AGH Industries (AGH) (a sole proprietorship concern belonging to the promoters of ACPL) to ACPL as a condition to the strategic buyout of ACPL by Zamil. 
  • Advised Navigate Mauritius Limited in its exit from Nirulas Hospitality Services Private Limited by transferring its stake to NSB Infrastructure and Projects Private Limited.  
  • Advised Standard Chartered Private Equity in its exit from Endurance Technologies, in favour of Actis Advisors Private Limited 
  • Advised Tek Travels Private Limited and its promoters in the sale of 51% stake to MIH India Holdings Limited. Tek Travels is operating an online travel portal catering to the business-to-business segment.  
  • Advised a leading Private Equity Investor in emerging markets, in its ` 2.08 billion acquisition of a controlling stake in a manufacturer of halogen lamps.  
  • Advised Italian auto-component manufacturer Streparava Holding s.p.a. (Streparava) in its exit from Sansera, pursuant to Citigroup Venture Capital International’s acquisition of a substantial stake in sansera for an aggregate consideration of ` 3400 million. Streperava which held 49% stake in its Joint Venture with Sansera Engineering Private Limited (Sansera) and also a minority stake of 3.24% in Sansera.  
  • Advising Asia Pacific Breweries Limited in relation to sale of its two breweries in India, owned by its wholly-owned Indian operations, Asia Pacific Breweries (Aurangabad) Private Limited and Asia Pacific Breweries-Pearl Private Limited to Heineken International B.V. 
  • Advised Azelis, an established chemicals and polymer trading company in Italy, in relation to its acquisition of majority stake Marigold International Private Limited with the right to further ramp up to 100%.  
  • Advised Kaba Holding AG, a Swiss company, in its 50:50 Joint Venture with certain Indian shareholders belonging to the Minda Group for manufacturing, marketing, distribution and sale of keys and the assembly of rotors and sheet metal, through Tuff Engineering Private Limited.   
  • Advising Merieux Alliance, on the sale of entire shareholding of its wholly owned subsidiary Shan-H to Sanofi-Aventis. Shan-H holds 78% stake in Shantha Biotech Limited, a Hyderabad based company involved in the manufacturing of drugs involving DNA re-combinant technology.  
  • Advised Alliance Insurance Brokers Private Limited, in its capital raise from Mayfield FVCI, Ltd, including making necessary filings with the Foreign Investment Promotion Board for grant of approval to the FDI investment in the insurance broking space. 
  • Advised GTI Capital, a Mauritius based private equity fund, in the drafting of coinvestment agreements to facilitate the raising of funds from various limited partners by its co-investment vehicle located at BVI. 
  • Advised Pioneer Overseas Corporation, USA, on the acquisition of a 100% shareholding of Nandi Seeds Private Limited, a company involved in development, production, processing, packaging and sale of seeds.

PRACTICE AREAS

SECTORS

MEMBERSHIPS

  • Bar Council of Maharashtra & Goa
  • Supreme Court of India Bar Association

EDUCATION

  • B.SL, LL. B, Symbiosis Law University, Pune (2001) 
  • Diploma in International Mergers and Acquisition from The College of Law, England and Wales  
  • Diploma in International Joint Venture from The College of Law, England and Wales 
  • Diploma in Private Equity Programme from ISB

LANGUAGES SPOKEN

  • English
  • Hindi

Last Updated on 11th May 2020

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