Service: Open Offer

Manager to the Open Offer for Acquisition of stake by Anupam Rasayan India Limited in Tanfac Industries Limited

Deal Highlights:

  • Anupam Rasayan India Limited (ARIL) acquired 24.96% of the equity share capital of Tanfac Industries Limited (TIL) through SPA from Birla Group Holdings Private Limited (BGHPL), Pilani Investment and Industries Corporation Limited (PIICL) and Mr. Askaran Agarwala (jointly, members of Promoter & Promoter Group).
  • ARIL acquired joint control over TIL via entering into amendment to the JV agreement with Tamil Nadu Industrial Development Corporation (TIDCO) and became the promoter of TIL along with TIDCO.
  • Acquisition of stake in TIL by ARIL is a strategic decision to expand the product series under the fluorination chemistry of ARIL. TIL brings synergies in the form of backward integration.

Our Contribution:

  • We managed the entire open offer process, guided the Anupam team on key aspects of the deal and ensured timely approval from SEBI, thereby ensuring timely completion

Buy Side Advisor to Reliance New Energy Ltd. for Acquisition of 40% stake in Sterling & Wilson Renewable Energy Ltd.

Deal Highlights

  • Reliance New Energy Limited (RNEL) a wholly-owned subsidiary of Reliance Industries Ltd (RIL) has acquired 40.0% stake in Sterling and Wilson Renewable Energy Limited (SWREL)
  • Issue of preferential equity shares to RNEL constituting 15.46% of the post-preferential stake
  • Acquisition of 1.84cr equity shares (representing 9.70% of the post-preferential capital) from Shapoorji Pallonji and Company Private Ltd (SPCPL), a promoter of SWREL (“Tranche 1”)
  • Acquisition of such number of additional equity shares from SPCPL and Khurshed Daruvala, both promoters of SWREL, to ensure 40% shareholding in SWREL after considering the preferential issue, Tranche 1 and shares tendered in the open offer made by RNEL to public shareholders of SWREL

Our Contribution

  • Clear Ideation – we identified the potential of an investment at a very early stage and helped stitch the transaction from inception
  • Structuring the deal to ensure a favorable outcome for the client
  • We managed the entire open offer process and ensured timely approval from SEBI, thereby ensuring timely completion