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LX International Corp. in its sale of 35% stake in POSCO-India Pune Processing Center

JSA advised LX International Corp. in its sale of 35% stake in POSCO-India Pune Processing Center Private Limited (IPPC). LX International is a global trading company that provides a full suite of services across the entire value chain ranging from trading to business development, investment to financing, and raw material supply to logistics. POSCO Group is a global steel giant. IPPC is involved in processing and distributing value-added steel products, including hot-rolled coils, cold-rolled coils, galvanised steel, and specialty steel products.

Our Corporate team comprised of Lead Partner, Anand Lakra, Partner, Niharika Mepani and Senior Associate, Jinay Shah.

Our Taxation team comprised of Partner Kumarmangalam Vijay and Suraj Shettyand Associate, Tejasvi Shukla.

Our Competition team comprised of Partner, Vaibhav Choukse & Ela Bali and Principal Associate Nripi Jolly.

Donau Carbon in its 100% acquisition of Kalpa Char Products

JSA represented Donau Carbon GmbH, a business unit of Donau Chemie AG, on its acquisition of Kalpa Char Products Private Limited. This marks the Donau Group’s first investment in India, furthering its global footprint in the activated carbon industry. Donau Carbon GmbH is part of the Donau Chemie group which is amongst the leading manufacturers of activated carbon in the world, with a company history of more than 100 years. Their activated carbon portfolio comprises a wide spectrum of powdered, granular and extruded activated carbon grades manufactured from raw materials like coal, lignite, coconut shell and wood by all the customary activation processes.

Our deal team comprised of Lead Partner, Anand Lakra, Partner, Niharika Mepani, Principal Associate, Ami Shah, Senior Associate, Jinay Shah and Associates, Diya Dave and Rahi Barfiwala.

CriticaLog and LoGon Investments GmbH stake sale to Shadowfax

JSA advised the Promoters of CriticaLog and its key investor LoGon Investments GmbH on their sale of shares to Shadowfax.

CriticaLog is a critical logistics service provider and is engaged in high-value shipments, including electronics, pharmaceuticals, automobile spare parts, etc and it has an industry-leading 0% loss rate for high-value goods and serves over 400 organizations, including Fortune 500 businesses. Shadowfax provides logistics solutions for a variety of industries, and it presently offers third-party logistics services to D2C brands and e-commerce businesses in more than 2,500 locations and 18,000 pin codes.

Our Corporate team was led by Partners, Raj Ramachandran and Santosh Vijay with support from Associates, Mannat Nirola and Shashank Uppalapati.

Our Taxation team comprised of Partner, Kumarmanglam Vijay and Associate, Tejasvi Shukla.

Media CoverageThe Economic Times

JSA advised MUFG Bank Ltd. in its investment in Shiprocket Limited

JSA advised MUFG Bank Ltd. (MUFG) in relation to acquisition of stake in Shiprocket Limited (Shiprocket). Shiprocket raised ₹219 crore (approximately $26 million) in an extension of its Series E funding round.

Along with MUFG, KDT Ventures (the lead investor), Tribe Capital, SAI Global, and Huddle Collective, also participated in this round. MUFG Bank, Ltd is a Japanese bank and the core banking subsidiary of the Mitsubishi UFJ Financial Group, which is a leading global financial services group and one of the largest banking institutions in Japan.

Shiprocket is an ecommerce enablement platform providing digital retailers an end-to-end customer experience platform including but not limited to shipping, fulfilment, customer communication and marketing tools as well as providers for SMEs, D2C retailers, and social commerce retailers in India.

Our transaction team comprised: Lead Partner – Lalit Kumar, Partner – Bharati Joshi, Senior Associate – Zarish Ali, and Associate – Muskaan Gupta.

Our tax team comprised: Partner and Head of Practice, Direct Tax – Kumarmanglam Vijay, Partner – Surajkumar Shetty, Senior Associate – Divyam Mittal, and Associate – Harshita Agrawal.

Our competition team comprised: Partners – Vaibhav Choukse and Ela Bali, Principal Associate – Nripi Jolly, Senior Associate – Aditi Khanna, and Junior Associate – Arundhati Rajput.

JSA advises Bajaj Consumer Care Limited in its 100% acquisition of Vishal Personal Care Private Limited

JSA advised Bajaj Consumer Care Limited (BCCL), a public listed FMCG company within the Bajaj Group, in its 100% acquisition of Vishal Personal Care Private Limited, a company engaged in the business of manufacturing skin and hair care products under the brand name ‘Banjara’s’, from Peepul Capital, a private equity fund.

The acquisition will be completed in two tranches where BCCL will initially acquire a minority 49% stake, followed by a time bound acquisition of the remaining 51%, subject to the satisfactory completion of the customary closing conditions as agreed in the transaction documents.

By way of this acquisition, BCCL intends to expand its footprint across Indian markets, leveraging the growing demand for natural and Ayurvedic personal care products. JSA team played a key role in providing end-to-end assistance in every step of the transaction. By undertaking due diligence of the target, structuring the transaction, negotiations on transaction documents and advising on all ancillary issues – JSA was involved in all aspects of the transaction.

Our transaction team comprised: Partners – Kartik Jain and Anant Mishra, Senior Associates – Archi Roy and Kumar Shubham, Associates – Anmol Mahajan and Prakhar Agarwal, Junior Associate – Vishal Chowdary, and Company Secretary – Alisha Chawla.

Our due diligence team comprised: Partners – Kartik Jain and Preetha S, Senior Associates – Archi Roy and Kaushik Pranav Dangeti, Associates – Anmol Mahajan, Aishwarya Manjooran, Sharique Uddin, and Samyutha Samudrala Rao, Junior Associate – Vishal Chowdary, and Company Secretary – Alisha Chawla.

Episode 6: M&A + PE: Enabling, Empowering, Equipping India Inc. for 2047

The latest episode of our video podcast series, “Transforming India: The Road to 2047,” produced in collaboration with Mint and hosted by Anil Padmanabhan, is live. In this episode, we delve into the transformative role of strategic investments in driving India’s economic growth.

JSA Partners Iqbal Khan and Lalit Kumar share their valuable insights on sectoral opportunities and regulatory reforms that are essential for fostering a conducive investment environment.

Join us as we engage with thought leaders and industry experts shaping India’s economic landscape narrative. We’d like to invite you to tune in and better understand how strategic investments can propel India towards its ambitious goals by 2047.

Engage with us on this important topic. Watch the episode now and share your insights!

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Acquisition of Adroit USA Inc. (and its Indian manufacturing subsidiary – AUSA Medical Devices Private Limited) by Medical Device, Inc.

JSA acted as Indian legal counsel to Adroit USA Inc., its wholly owned subsidiary – AUSA Medical Devices Private Limited and their promoters, in connection with the 100% sale of Adroit USA Inc. and AUSA Medical Devices Private Limited to Medical Device, Inc. (an entity set up by Arterex for the purposes of the acquisition).

Arterex is a leading global medical device developer and contract manufacturer. Adroit USA Inc. provides custom, value added, turnkey solutions to the medical device industry and offers solutions to businesses of all sizes, from startups to Fortune 500 companies. The company has two ISO 13485-certified facilities in Bangalore, India, that provide various capabilities for complete medical device manufacturing.

Our transaction team comprised, Lead Partner – Sidharrth Shankar, Partner – Nandini Seth, Principal Associate – Aditya Vardhan Dayal, Senior Associate – Rupaly Middha, and Associate – Pranav Rao N.

Our taxation team comprised, Partner and Head of Practice, Direct Tax – Kumarmanglam Vijay, Partner and Head of Practice, Indirect Tax – Manish Mishra, Partner – Surajkumar Shetty, Of-Counsel – Ankur Mittal, Senior Associate – Divyam Mittal, Associate – Dhwani Vyas, and Principal Consultant – Ruchita Modi.

Our competition team comprised, Partner and Chair, Competition Law – Nisha Kaur Uberoi, Partner – Harshita Parmar, and Principal Associate – Rahat Dhawan.

Family office of Adar Poonawalla to acquire ~20% stake in Astaguru Auction House

JSA represented the family office of Adar Poonawalla in its proposed acquisition of approximately ~20% stake in AstaGuru Auction House Private Limited (the “Company”), India’s premium auction house, promoted by Vickram Sethi, Tushar Sethi and Neelam Sethi. The investment marks a pivotal moment for the Company, paving the way for its expansion in local and global markets. The collaboration will drive growth across various verticals and categories, leveraging research-driven strategies and AI-powered digital enhancements to elevate user experiences.

Founded in 2008, the Company was established to create a safe and secure platform for online auctions featuring Modern Indian Art, Contemporary Act, and fine collectibles. The platform bridges the gap between buyers and consignors, enabling seamless participation through its real-time mobile app.

Our transaction team comprised Lead Partner & National Corporate Lead – Iqbal Khan, Partner – Devika Menon, Senior Associate – Tarini Sardesai, and Associates – Nidhi, Ayushi Choudhary, and Mallika Bhaskar.

Our tax team comprised Partner and Head of Practice, Direct Tax – Kumarmanglam Vijay, and Partners – Surajkumar Shetty, and Shareen Gupta.