JANUARY 2013
Transactions
105
SoHan LaL coMModItY ManaGEMEnt SEcURES InVEStMEnt FRoM EVERStonE caPItaL, EMERGInG IndIa FUnd,
MaYFIELd FVcI, Ltd. and nEXUS IndIa dIREct InVEStMEntS
Everstone Capital and ICICI Bank through its Emerging India Fund, being the frontrunners, along with existing investors, Mayfield FVCI, Ltd. (“Mayfield”) and Nexus India Direct Investments invested around Rs. 100-124 Cr in Sohan Lal Commodity Management, according to TOI.
This would be the third round of fund raising by the company. In 2010 it raised R10 Cr from Nexus Venture Partners which was followed by an investment of Rs. 35.5 Cr by Nexus Venture along with Mayfield India last year in March.
Operating from Delhi and founded by Sandeep Sabharwal, Sohan Lal Commodity provides agri-logistics services including agri-commodity warehouse management and procurement solutions to farmers, processors, trader, agri exchanges and government across 70 locations and 12 states in India.
It has a warehousing space of more than 1 Mn sq.ft with a capacity exceed- ing 150,000 MT. It counts Cargill, Ruchi Soya, Jindal, AWB, Adani and various others as its clients.
Economic Laws Practice (“ELP”) advised existing shareholder Mayfield in reviewing, drafting, negotiating and execution of the transaction documents such as term-sheet, share subscription agreement, shareholders agreement and other closing documents. ELP also advised on the issues arising while structuring certain aspects of the transaction pertaining to the applicable RBI guidelines and FDI regulations. Mayfield also made an investment in this round of financing. Yashojit Mitra (Partner) along with Devyani Singh (Senior Associate) and Archana Khosla (Associate Manager) worked on the transaction. LM
UMEME IPo
tHE Umeme Initial Public offering (IPo) opened on Monday 15th october 2012 and closed on 7th november 2012. the company was well received by the market with over 35% over-subscription by enthusiastic investors. Follow- ing its listing on the Uganda Securities Exchange the company went on to cross-list by introduction on the nairobi Securities Exchange
This is the second largest company on the Uganda Securities Exchange.
It marks the first time that a private sector entity has listed on the Uganda Securities Exchange and the first time that a Ugandan company has been cross-listed on the Nairobi Securities Exchange.
The transaction was also the first done under recently amended Capital Markets laws including the requirement for dematerialization of the shares.
MMAKS Advocates acted as Legal Adviser, led by Partner, Phillip Karugaba. The firm conducted a legal due diligence, advised on the necessary legal steps to convert to a listing, addressed regulatory concerns, issued the statutory legal opinion and generally advised on legal aspects of the transaction.
Webber Wentzel of South Africa acted as International Legal Advisor. Anjarwalla & Khanna are acting as Legal Adviser to the listing by introduction on the Nairobi Securities Exchange (NSE) in Kenya. LM
www.lawyer-monthly.com
Sohan Lal Commodity Management
Umeme
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112