DEAL DETAILS
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Retail Holdings (India) B.V. | Sale of 22.34% stake in Singer India Limited |
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HEADINGS |
DETAILS |
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1. |
Sector | Consumer Durables; SUBSECTOR — Electrical Appliances |
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2. |
Announcement Date | 15 August 2022 |
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3. |
Completion Date | 16 August 2022 |
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4. |
Name of Client | Retail Holdings (India) B.V. |
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5. |
Bidder, Bidder Country | NA |
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6. |
Bidder Description | NA |
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7. |
Target, Target Country | Singer India Limited India |
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8. |
Target Description | Singer India Limited is engaged in the business of manufacturing and selling sewing machines, sewing machine heads, sewing machine needles, domestic electric appliances, domestic electrothermic appliances and domestic non-electric cooking and heating equipment. |
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9. |
Deal Description | Advised Retail Holdings (India) B.V. in relation to the sale of 22.34% stake in Singer India Limited via the on-market bulk trade mechanism to a group of investors which included Rare Investments, PGA Securities Private Limited, Insurexcellence Advisors Private Limited and TIA Advisors LLP. |
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10. |
Total Consideration | Approx. INR 64 crore |
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11. |
Turnover of Target if Deal Value Undisclosed | NA |
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12. |
Team Members | The core transaction team consisted of Pashupati Nath (Partner), Arjun Bhagi (Principal Associate), Tanima Tandon (Principal Associate), Shivansh Mehta (Associate) and Prachi Tripathi (Associate). Sudhir Bassi (Executive Director) and Shashank Patil (Principal Associate) assisted on select securities law aspects. Indruj Rai (Partner) and Sarthak Parnami (Senior Associate) assisted on select taxation law aspects. |
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Role of Firm | Advised Retail Holdings (India) B.V. in relation to the sale of 22.34% stake in Singer India Limited via the on-market bulk trade mechanism to a group of investors which included Rare Investments, PGA Securities Private Limited, Insurexcellence Advisors Private Limited and TIA Advisors LLP. The scope of assistance included structuring and implementation of the transaction. |
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14. |
Financial Advisors | NA |
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15. |
Other legal advisors if any with names of Lead Lawyers | Parinam Law Associates (Mr Ravichandra Hegde) Capex Legal (Ms Malini Sud) |