JSA
This edition of the JSA Brief showcases JSA authored articles, updates & newsletters and achievements such as deals and events in all practice area over the preceding month (September 2024).
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JSA advised UT Pumps & Systems Private Limited (UT Pumps) on the transfer of its pumps business undertaking to the Indian subsidiary of Ingersoll Rand.
UT Pumps is a leading manufacturer of screw pumps and high-pressure triplex plunger pumps.
Ingersoll Rand offers a full range of industry leading gear pumps worldwide. The acquisition of the pumps business of UT Pumps adds new pump technology to Ingersoll Rand’s portfolio.
Our Transaction Team Comprised Lead Partner – Sidharrth Shankar, Partner – Prakriti Jaiswal, Principal Associate – Anindita Basu, Associate – Eksha Narayan.
Our Tax Team Comprised Partner – Manish Mishra, Principal Associate – Shikha Parmar, and Associate – Shubh Dixit.
JSA advised Bharat Value Fund on its investment in Millenium Babycares Limited, a company specializing in baby care, femcare, and adult care products. Founded in 2015, Millenium Babycares operates under three key verticals.
The company sells its baby diapers under the “Bumtum” brand, alongside adult incontinence products under “Elduro” and femcare products under “Freeme.” This investment of INR 122 Cr (USD 14.5 Mn) will support the expansion of the company’s manufacturing unit and enhance its presence in general trade and export markets. This funding round marks a strategic move to strengthen Millenium Babycares’ position in a growing industry.
Deal value: USD 14.5 Million
Our Transaction Team Comprised Lead Partner – Siddharth Mody, Partner – Rohan Kumar, and Associate – Gavin Pereira.
JSA advised and assisted Manipal Health Enterprises Private Limited(“MHEPL”) to acquire land parcel admeasuring 11,342.77 sq. mtrs. along with part of a Hospital Building standing thereon in Juhu, Mumbai from Khubchandani Hospitals Pvt Ltd, Khubchandani Properties and Investments Pvt Ltd and Perfect Realty Pvt Ltd (“the Vendors”).
The balance of the Hospital Building will be acquired when certain conditions subsequent are complied with by the Vendors. JSA did the legal due diligence and drafted the transaction documents for acquisition of this property. The deal also was published in the print edition of the Economic Times on 15th October, 2024.
Our Transaction Team Comprised Lead Partner – Farid Karachiwala, Associates – Vishwa Mehta, Krutika Mehta and Junior Associate – Sanya Gandhi.
The Hon’ble Supreme Court of India recently expressed its disappointment towards the ‘sorry state’ of solid waste management in the national capital. The court noted that while the approximate amount of solid waste generated daily in Delhi is about 11000 tonnes, the treatment capacity is only for 8073 tonnes. This effectively leaves 3000 tonnes untreated posing a public health hazard which as per the Municipal Corporation of Delhi (MCD) will continue till 2027. Admittedly, we will soon face a public health emergency in the entire national capital region, which includes contiguous areas in Gurgaon, Faridabad etc. besides Delhi.
Please click here to read the full article by Amit Kapur and Nawneet Vibhaw, published in Financial Express.
JSA advised and assisted Kedaara Capital Fund II LLP (“Kedaara”) and Sunbeam Lightweighting Solutions Private Limited (“Sunbeam”) in the transaction involving the acquisition of 100% shareholding in Sunbeam by Craftsman Automation Limited (“Craftsman Automation”), and further primary investment by Craftsman Automation in Sunbeam.
The transaction involved complex structuring, and was completed after obtaining the approval of the Competition Commission of India.
Our Transaction Team Comprised Lead Partner – Siddharth Mody, Partner – Anurag Shrivastav, Senior Associate – Alister Sequeira, Associate – Ayush Chaturvedi.
Our Competition Team Comprised Partners – Vaibhav Choukse and Ela Bali, Principal Associate – Nripi Jolly, Associate – Prashasti Srivastav and Junior Associate – Arundhati Rajput.
JSA advised Inflexor Technology Fund on its follow-on investment in BioPrime AgriSolutions, a biologicals startup, in a round which was led by Belgium-based Edaphon, marking Edaphon’s first investment in Asia, along with a significant contribution from another existing investor Omnivore.
The current round of investment will fuel BioPrime’s research in the crop protection segment, focusing on the co-development of novel biofungicides and bioinsecticides. The company plans to launch its existing range of innovative biostimulants in North America, Brazil, and Southeast Asia, with trials in the US currently underway.
Our Transaction Team Comprised Partner – Siddharth Mody, Principal Associate – Prerana Chaudhari, and Associate – Regan D’Mello.
JSA advised and assisted Downhole Products Limited (“DHP”), a wholly owned subsidiary of Varel Oil and Gas Inc., (“Varel“) on its acquisition of 100% stake in Sledgehammer Oil Tools Private Limited (the “Company”). The transaction was structured as a two-tranche acquisition, within a 2-year period, with DHP acquiring 78% of the shareholding of the Company in June, 2022 and the remaining 22% in October, 2024.
Varel is one of the largest manufacturers of downhole drilling and completions products in the energy sector.
Our Transaction Team Comprised Lead Partner – Iqbal Khan, Partner – Devika Menon, Senior Associate – Tarini Sardesai and Associate – Nidhi.
JSA advised Tata Technologies Limited, in its joint venture with BMW Holding B.V., Netherlands, to provide automotive software, including software defined vehicle solutions for BMW Group’s premium vehicles. The transaction closed on October 8, 2024, following the receipt of approvals from anti-trust regulators in Germany, Poland and China as well as on fulfilment of certain operational conditions precedents.
The joint venture entity, BMW Techworks India Private Limited, marks the first venture between the two conglomerates, which will complement BMW Group’s global strategy by engineering seamless and scalable software solutions for next-gen vehicles and delivering enhanced digital experiences.
Our Transaction Team Comprised Lead Partner – Iqbal Khan, Partner – Devika Menon, Senior Associate – Megha Diddi, and Associate – Subham Biswal.
Our Competition Team Partners – Vaibhav Choukse, Ela Bali and Principal Associate – Nripi Jolly.
Our Employment Team Comprised Partners – Gerald Manoharan and Sonakshi Das.
Presenting the second episode of JSA Mint Transforming India – The Road to 2047, a video and podcast series.
Featuring Vivek K Chandy, Joint Managing Partner, and Archana Tewary, Partner, at JSA Advocates and Solicitors, and anchored by veteran journalist Sachin Kalbagh, this episode focuses on enabling investments to drive broad-based economic growth.
The discussion dives deep into the realm of investment and economic growth with a focus on development from the micro to the macro in India. Our country’s growth story has often been driven by the top-down approach, with major metropolitan areas and industrial hubs receiving the lion’s share of investment. This may well have been needed at the time, to establish the key hubs for growth. However, to truly harness the potential of our diverse and dynamic country, it’s crucial to explore strategies that promote inclusive and geographically and socio-economically dispersed economic growth.
Hear in for insights, strategies, and real-world examples that can help shape a more balanced and inclusive growth trajectory for India. Whether you’re an investor, policymaker, entrepreneur, or simply interested in the future of India’s economy, this episode will offer valuable perspectives and actionable ideas.
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