Sidharrth Shankar


Sidharrth’s practice covers diverse areas of Corporate Commercial, Mergers & Acquisitions and Private Equity investments.

He has been representing multi-national companies in cross-border transactions, advising on foreign direct investments, outbound investments, Joint Ventures, technology transfers and commercial contract issues. He has also handled some of the Capital Market related transactions such as FCCBs (Foreign Currency Convertible Bond) and GDRs (Global Depositary Receipts).

His work experience includes advising Indian and foreign parties on Private Equity investments in India and advising companies engaged in the Financial Services sector including non-banking financial services companies and brokerages.

Some of the key assignments in these areas handled and being handled by Sidharrth amongst others cover the following:

  • Advised Standard Chartered Private Equity (Mauritius) II Limited, Ashoka Investment Holdings Limited, and Ambadevi Mauritius Holding Limited in relation to their exit from Firepro Systems Private Limited
  • Advised Jasper Infotech Private Limited (Snapdeal) in connection with its sale of 100% shares of its subsidiaries Freecharge Technologies Private Limited and Accelyst Solutions Private Limited, to Axis Bank Limited
  • Advised Jasper Infotech Private Limited (Snapdeal) in connection with sale of its minority stake in Macro Commerce Private Limited to the joint venture partner DEN Networks Limited, a publicly listed cable and broadband operator
  • Advised Ozone Propex Private Limited in its acquisition of CCDs of its subsidiary Ozone Urbana Infra Developers Private Limited from Avronest Limited (a Cyprus based private equity fund)
  • Advised Xavient Infotech Private Limited, Xavient Software Solutions (India) Private Limited and its promotersin relation to investment (direct and indirect) in XIT and XSS by TELUS International (Cda) Inc., a Canadian telecommunications company
  • Advised Chand Industry in the sale of its undertaking engaged in the business of manufacturing and supplying plastic injection moulded products and fasteners for two-wheel and construction vehicles, to Stanley Engineered Fastening India Private Limited
  • Advised Bhartiya Urban Infrastructure and Land Development Company (Bhartiya) and its promoters in the exit by Private Equity fund IL&FS Investment Managers from their investment in Bhartiya City, a 125 acre integrated township project in Bangalore
  • Advised Xylem Seeds Private Limited (a DuPont group entity housing its cotton seed portfolio in India), and its shareholders in relation to the proposed sale of the entire shareholding of Xylem to Tierra Agrotech Private Limited
  • Advised Clearwater Capital Partners India Private Limited (now renamed as Altico Capital India Private Limited): 
    • In a subscription to privately placed NCDs for an amount of ` 1 billion issued by Ramprastha Promoters and Developers Private Limited
    • As the lender in relation to multiple term loan facilities of `300 million, `500 million and `600 million availed by Ramprastha Promoters and Developers Private Limited
  • Advised Lonza Group AG in relation to India leg of its acquisition of Capsugel S.A. from KKR for USD 5.5 billion, in cash, including refinancing of existing Capsugel debt of approximately USD 2 billion
  • Advised Bimbo Holanda (subsidiary of Grupo Bimbo) in connection with its acquisition of 65% share capital of Ready Roti India Pvt. Ltd (entity of Harvest Gold group)
  • Advised Tulip Group on the sale of the group entities by its promoters to PerkinElmer (PKI), being an entity listed on the New York Stock Exchange
  • Advised Annik Technology Services Private Limited in relation to the purchase of shares of Annik by LiquidHub, Inc. (a portfolio entity of ChrysCap) from the shareholders of Annik
  • Advised Tilda Hain India Private Limited (part of the Hain Celestial Group, USA) in relation to its joint venture with Future Consumer Limited, a listed company in India
  • Advised Teikoku Electric Mfg. Co. Ltd., a Japanese public listed company, in relation to its investment in Hydrodyne (India) Private Limited
  • Advised the Taparia Family (promoters of Famy Care Limited including Ashutosh Taparia) and Ajay Lal (erstwhile senior member of the management team of private equity fund - AIF Capital and director on the Board of Airtel) in relation to their investment in Guardian Nutrition and Healthcare Private Limited (GNHPL)
  • Advised the Danaher Group on the India leg of restructuring for its various operating entities, and assisted in various steps at the Japan and, Singapore level, involving the Indian entities of the Danaher Group
  • Advised Au Financiers in its sale of upto 100% stake sale in its wholly owned subsidiary (Au Housing Finance Limited) engaged in housing finance business, to Kedaara Capital and Partners Group
  • Advised Sohan Lal Commodity Management Private Limited, its promoter Mr. Sandeep Sabharwal and Creation Investments Social Ventures Fund III in relation to the partial sale of securities by some of the existing Shareholders to Responsibility Participations Mauritius and Agrif Cooperatief UA
  • Advised SohanLal Commodity Management Private Limited in its Series D round of Private Equity funding by two private equity/ venture capital funds, Creation Investments and Everstone Capital Partners II LLC
  • Advised BLP Energy Private Limited (Bharat Light and Power Group) in its fund raising exercise from Enel Green Power, Italian multinational renewable energy company. The deal size was approximately Rs. 2.5 billion
  • Advised Bharat Light and Power in its joint venture arrangement with Statkraft Markets B.V., which is a Norwegian state owned electricity group which is a leading company in hydropower internationally    
  • Advised Zophop Technologies Pte. Ltd (a Singapore company), and its Indian subsidiary, Zophop Technologies Private Limited, in relation to a primary investment received from angel investors and Series A investors
  • Advised Unlockd Media Pty Ltd in connection with its strategic alliance agreement with Smile Online Sales Service Private Limited
  • Advised India Alternatives Private Equity Fund in its investment in compulsorily convertible preference shares of Seclore Technology Private Limited (Seclore) as part of a Series C round financing into Seclore
  • Advised PVR Limited (PVR) a company listed on the BSE and the NSE, in its purchase of the entire equity and preference share capital held by L Capital Eco Ltd. (L Cap) in PVR Leisure Limited (PVR Leisure)
  • Advised Nexus Ventures in its four rounds of private equity funding in SSN Logistics Private Limited (Delhivery), a company engaged in warehousing and last mile logistics services. Other private equity investors in the target company are Internet Fund III Pte Ltd. (Tiger Global), Times Internet Limited and Multiples Private Equity Fund
  • Advised the shareholders of Lilac Medicare Private Limited (Lilac) in their 100% sale of the shareholding of Lilac to Tosoh Corporation (Japan) and Tosoh Asia Pte. Ltd. (Singapore)
  • Advised Tilda Riceland in selling its assets relating to the domestic sales and sourcing operations to Hain Celestial Group, Inc. The combined (UK and Indian) deal size is in excess of `22 billion (approx. US$ 362 million)
  • Advised Air Water Inc. (AWI), a Japanese entity in its acquisition of a majority stake in Ellenbarrie Industrial Gases Limited (Target Company), a company listed on the Calcutta Stock Exchange. Post completion of the open offer process, AWI holds 51% in the Target Company for approximately ` 1.06 billion
  • Advised HAV2 (Mauritius) Limited (HAV2), a SEBI registered FVCI, in its exit from Newgen Software Technologies Limited pursuant to the sale of its shares to Ascent India Fund III (Ascent) and IDG Ventures India Fund II LLC (IDGVI). Ascent and IDGVI are funds based out of India and Mauritius, respectively
  • Advised Mayfield FVCI, Ltd in its acquisition of a significant minority stake in BTB Marketing Private Limited, a company which runs the Beer Café chain in India
  • Advised PVR Limited (PVR), a company listed on the BSE and the NSE in relation to an investment made by L Capital Eco Ltd, an affiliate of L Capital Asia LLC (L Capital), for up to 10% of PVR’s equity share capital, under the preferential allotment route and in relation to an investment by L Capital in PVR Leisure Limited (a subsidiary of PVR); and in PVR’s corporate restructuring to facilitate this transaction
  • Advised Apollo International Ltd. and Apollo Logisolutions Ltd. (ALS) in relation to an investment by Flag Holding LLC, a UAE based company in the share capital of ALS
  • Advised Standard Chartered Private Equity (Mauritius) II Limited and Standard Chartered Private Equity (Mauritius) III Limited (collectively, SCPE) on its exit from Firepro Systems Private Limited (Firepro) as part of Panasonic Corporation’s investment in Firepro. Prior to the exit transaction, advised SCPE on its further subscription to the share capital of Firepro by way of a rights issue.
  • Advised Standard Chartered Bank in its structured debt financing to Bhushan Steel Limited, a BSE and NSE listed company
  • Advised SohanLal Commodity Management Private Limited in its Series C round of Private Equity funding by four private equity/ venture capital funds, Nexus India Direct Investments II, Mayfield FVCI, Ltd, Everstone Capital Partners II LLC and Emerging India Fund
  • Advised Citi Venture Capital International (CVCI) in relation to its exit rights in two of its portfolio companies. The scope of work involved conducting an analysis of CVCI’s investment agreements with the portfolio companies and preparing a detailed memorandum, setting out enforceability of CVCI’s exit rights from a legal and regulatory perspective
  • Advised Zamil Industrial Investment Company (Zamil), a Saudi Arabia based manufacturing and construction major in its 100% strategic buyout of its Indian Joint Venture Partner - Advantec Coils Private Limited (ACPL). The transaction also involved advising Zamil on the transfer of business of AGH Industries (AGH) (a sole proprietorship concern belonging to the promoters of ACPL) to ACPL as a condition to the strategic buyout of ACPL by Zamil
  • Advised Navigate Mauritius Limited in its exit from Nirulas Hospitality Services Private Limited by transferring its stake to NSB Infrastructure and Projects Private Limited
  • Advised Standard Chartered Private Equity in its exit from Endurance Technologies, in favour of Actis Advisors Private Limited
  • Advised Tek Travels Private Limited and its promoters in the sale of 51% stake to MIH India Holdings Limited. Tek Travels is operating an online travel portal catering to the business-to-business segment
  • Advised a leading Private Equity Investor in emerging markets, in its ` 2.08 billion acquisition of a controlling stake in a manufacturer of halogen lamps
  • Advised Italian auto-component manufacturer Streparava Holding s.p.a. (Streparava) in its exit from Sansera, pursuant to Citigroup Venture Capital International’s acquisition of a substantial stake in Sansera for an aggregate consideration of ` 3400 million. Streperava which held 49% stake in its Joint Venture with Sansera Engineering Private Limited (Sansera) and also a minority stake of 3.24% in Sansera
  • Advising Asia Pacific Breweries Limited in relation to sale of its two breweries in India, owned by its wholly-owned Indian operations, Asia Pacific Breweries (Aurangabad) Private Limited and Asia Pacific Breweries-Pearl Private Limited to Heineken International B.V.
  • Advised Azelis, an established chemicals and polymer trading company in Italy, in relation to its acquisition of majority stake Marigold International Private Limited with the right to further ramp up to 100%
  • Advised Kaba Holding AG, a Swiss company, in its 50:50 Joint Venture with certain Indian shareholders belonging to the Minda Group for manufacturing, marketing, distribution and sale of keys and the assembly of rotors and sheet metal, through Tuff Engineering Private Limited
  • Advising Merieux Alliance, on the sale of entire shareholding of its wholly owned subsidiary Shan-H to Sanofi-Aventis. Shan-H holds 78% stake in Shantha Biotech Limited, a Hyderabad based company involved in the manufacturing of drugs involving DNA re-combinant technology
  • Advised Alliance Insurance Brokers Private Limited, in its capital raise from Mayfield FVCI, Ltd, including making necessary filings with the Foreign Investment Promotion Board for grant of approval to the FDI investment in the insurance broking space
  • Advised GTI Capitala Mauritius based private equity fund, in the drafting of co-investment agreements to facilitate the raising of funds from various limited partners by its co-investment vehicle located at BVI
  • Advised Pioneer Overseas Corporation, USA, on the acquisition of a 100% shareholding of Nandi Seeds Private Limited, a company involved in development, production, processing, packaging and sale of seeds

Workshops, Seminars & Publications

Sidharrth regularly writes articles in The Financial Express and other leading business papers.

  • Contributed the India chapter in the publication Getting the Deal Through - Private Equity 2014 (Transactions), published by Law Business Research Ltd, UK, strategic research partner for the ABA Section of International Law and the official research partner of the International Bar Association
  • Contributed the India chapter in the publication Getting the Deal Through - Private Equity 2013 (Transactions), published by Law Business Research Ltd, UK, strategic research partner for the ABA Section of International Law and the official research partner of the International Bar Association
  • Insider Trading Regulations: Greater Clarity” published in Business Today, March 26, 2014
  • Insurance Bill: It is time for the Government to Act” published in Business Today
  • Put and Call Options Get Legit, now RBI should act” published in The Economic Times
  • Ups and Downs for Private Equity Investors” published in The Financial Express
  • What you should know about the Money Laundering Bill” published in Business Today
  • Messiah or Monster” published in The Financial Express
  • For Excellence in Education” published in The Financial Express
  • Pensioning Infrastructure” published in The Financial Express
  • What should PE Investors look out for?” published in The Financial Express
  • Managing Shareholder Activism” published in The Financial Express, April 16, 2014
  • “No future of options in securities” published in The Financial Express, October 14, 2011
  • “Put me in trouble and I will call SEBI” published in Business Standard, October 9, 2011
  • “FVCIs: Narrowed Route” published in The Financial Express, October 6, 2010
  • “GDR issue that triggered the takeover debate” published in The Financial Express, February 3, 2010

PRACTICE AREAS

SECTORS

MEMBERSHIPS

  • Bar Council of Maharashtra & Goa
  • Supreme Court of India Bar Association

EDUCATION

  • B.SL, LL. B, Symbiosis Law University, Pune

LANGUAGES SPOKEN

  • English
  • Hindi

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