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DEAL DETAILS |
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JK Tyre & Industries Limited | Issuance of compulsorily convertible securities by way of preferential allotment |
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NO |
HEADINGS |
DETAILS |
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1. |
Sector |
Automobiles and Components |
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2. |
Announcement Date |
03-Feb-2023 |
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3. |
Completion Date |
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4. |
Name of Client |
JK Tyre & Industries Limited |
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5. |
Investor Details |
International Finance Corporation | Multilateral Institution |
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6. |
Investee Details |
JK Tyre & Industries Limited | India |
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7. |
Deal Description |
Advised JK Tyre & Industries Limited in relation to the issuance of compulsorily convertible debentures to International Finance Corporation on preferential basis, for raising an amount aggregating to INR 240 crores. |
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8. |
Total Consideration |
INR 240 crore (USD 30 million) |
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9. |
Team Members |
The core team consisted of Ashwin Bishnoi (Partner), Pashupati Nath (Partner), Tanima Tandon (Principal Associate), Siddhartha Das (Senior Associate), Nipun Laroia (Associate), and Devaditya Chakravarti (Principal Associate) with assistance from the following:Advised on listed company related matters: Sudhir Bassi (Executive Director) and Abhishek Dadoo (Partner) Advised on matters pertaining to the Competition Commission of India: Anshuman Sakle (Partner) |
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10. |
Role of Firm |
Advised JK Tyre & Industries Limited in relation to the issuance of compulsorily convertible debentures to International Finance Corporation on preferential basis, for raising an amount aggregating to INR 240 crores. |
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11. |
Other legal advisors if any with names of Lead Lawyers |
Cyril Amarchand Mangaldas advised IFC on the transaction. |
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12. |
Quotation by Team Leader |
This deal is a clear sign of the knock-on effects of the Indian Government’s infrastructure push particularly in the roads sector. A privilege to work with two of the most renowned brands in India. |