Shardul Amarchand Mangaldas advised Neev Fund on investment in Leap India Food & Logistics Private Limited through its group entities. Leap India Food & Logistics Private Limited is involved in building, developing and operating agricultural silos being floated by Food Corporation of India (FCI) in Rajasthan, Uttar Pradesh, Madhya Pradesh, Bihar, Odisha, West Bengal, Jharkhand and Chhattisgarh. Neev Fund is a PE firm backed by State Bank of India and UK’s Department for International Development..
The General Corporate Practice of Shardul Amarchand Mangaldas assisted in conducting a due diligence on Leap India Food & Logistics and its group entities; as well as reviewing and negotiating on the transaction documents. The Private Equity Transaction Team was led by Mr. Jay Parikh, Partner; and included Ms. Aastha Khurana, Senior Associate; Ms. Kriti Krishnan, Associate and Ms. Pallavi Payal, Associate. Mr. Deepto Roy, Partner; and Mr. Abhay Sharma, Partner also advised on the transaction.
The parties involved in the transaction were Neev Fund (Our Client); Leap India Food & Logistics Private Limited Group. (Counter parties)
As a part of the transaction, Neev Fund would be investing in group entities of Leap India Food & Logistics Private Limited and the transaction involves funding for agri-silos projects under 32 year concessions from FCI in the States of Rajasthan, Uttar Pradesh, Madhya Pradesh, Bihar, Odisha, West Bengal, Jharkhand and Chhattisgarh. This is the first time FCI has floated concessions for agri-silos on a PPP model.
The deal was signed on 4 April, 2018 and the closing of the transaction is subject to certain conditions precedent.
About Shardul Amarchand Mangaldas & Co.
Shardul Amarchand Mangaldas & Co. (SAM & Co.), founded on almost a century of legal achievement, is one of India’s leading full-service law firms. The firm’s mission is to enable business by providing solutions as trusted advisers through excellence, responsiveness, innovation and collaboration. SAM & Co. is known globally for its exceptional practices in mergers & acquisitions, private equity, competition law, insolvency & bankruptcy, dispute resolution, capital markets, banking & finance and projects & infrastructure.
The Firm has a pan-India presence and has been at the helm of major headline transactions and litigations in all sectors, besides advising major multinational corporates on their entry into the Indian market and their business strategy. Currently, the Firm has over 520 lawyers, including over 100 Partners, offering legal services through its offices at New Delhi, Mumbai, Gurugram, Ahmedabad, Kolkata, Bengaluru and Chennai.