India

We are pleased to announce that Argus Partners advised Tata Steel Limited on its acquisition of BlueScope’s stake in the Joint Venture Tata BlueScope Steel. Over the last two decades, Tata BlueScope Steel has emerged as a world class products and solutions company for coated steel products in India. The acquisition is part of Tata Steel’s broader strategy to focus on downstream business in the flat products segment. The team at Argus Partners advising Tata Steel was led by Adity Chaudhury (Partner); and comprised Ankur Arora (Partner) assisted by Milind Anand, Anoushka Mani and Suvanwesh Das (Associates). Armaan Patkar (Partner) advised on securities law aspects of the deal. Read more at: Hindu BusinessLine

DMD Advocates is advising Aavishkaar Capital, a leading impact investment firm, on its partnership with Jamwant Ventures for the launch of a ₹500 crore defense technology fund aimed at fostering innovation and self-reliance in India’s defense sector. The newly launched fund, Jamwant Ventures Fund 2, will focus exclusively on deep tech with defense use cases, including new materials, autonomous systems (such as drones and underwater robotics), cybersecurity, sensors, and communication technologies. The partnership brings together Jamwant Ventures’ domain expertise, founded by retired naval officers with deep operational expertise, and Aavishkaar Capital’s institutional investment acumen, creating a unique platform dedicated to scaling indigenous defense technologies.   The DMD team is being led by Pallavi Puri (Partner), along with Aishwarya Gupta (Senior Associate) and Arnav Mithal (Associate), with strategic inputs from Rashi Dhir (Senior Partner & Head of Corporate).

DSK Legal assisted and advised Climateforce Technologies Private Limited (“Company”) and its founder, in connection with an investment round led by Transition Venture Capital Fund I, along with other participating angel investors. The transaction was structured as a mix of primary and secondary investment. Company is operating an AI-enabled risk management platform (i.e., ‘GreenFi’) for ESG compliance wherein its integrated platform leverages AI agents and large language models to automate ESG due diligence, reporting, and sustainability performance tracking across customers, portfolios, transactions, and suppliers. Pursuant to the investment round, the Company intends to scale its global distribution network, strengthen its AI product innovations, and expand its presence across key markets including California, Europe, Southeast Asia, and the Middle East. The role of DSK Legal included reviewing, negotiating, and finalising the transaction documents (including the share subscription agreement, shareholders agreement, share purchase agreement, and founder’s employment agreement), and providing support in relation to closing the transaction. The DSK Legal team, which represented the Company, comprised of Mr. Chirag Jain (Associate Partner), Mr. Kunal Garg (Senior Associate), and Ms. Snigdha Prakash (Senior Associate). Mr. Rishi Anand (Partner) acted as the lead engagement partner and gave strategic inputs on the transaction. Transition Venture Capital Fund I was represented by LexStart Partners

DSK Legal assisted and advised Triology Solutions Private Limited (“TSPL”) and its promoters in relation to the transfer and sale the TSPL’s business of manufacturing, developing, designing, marketing, distribution, sale, retail and trading of men’s grooming and skin care products under the brand name ‘Muuchstac’ to Godrej Consumer Products Limited, a public company incorporated under the provisions of Companies Act 1956, and listed on the Bombay Stock Exchange Limited and the National Stock Exchange of India (“GCPL”) by way of a slump sale on a going concern basis (“Transaction”). The brand “Muuchstac” is one of the India’s fastest-growing men’s grooming brands with a strong leadership position in the men’s facewash segment. This acquisition marks a strategic step in GCPL’s journey to strengthen its Personal Care portfolio and expand its footprint in high-growth, high-margin categories. The scope of work of DSK Legal included: (a) reviewing, revising, negotiating and finalizing the business transfer agreement (“BTA”), and other transaction documents such as (i) the promoter consultancy agreement, (ii) the distribution agreement, (iii) the intellectual property assignment agreement and other ancillary agreements under the BTA; and (b) assisting with achieving closing of the Transaction. Deal value: ~ INR 450 crores (approximately) with the payment being made in two tranches. The DSK Legal team that advised and assisted TSPL with respect to Transaction comprised of Mr. Hemang Parekh (Partner), Mr. Mayank Mehta (Partner), Ms. Aishwarya Kapoor (Principal Associate), Ms. Rishita Mallareddy (Associate), and Mr. Aasil Singh (Associate). Anand Rathi, acted as the exclusive transaction advisor for TSPL. Khaitan & Co acted as the legal counsel for GCPL. Deal Reporting: The Transaction has been reported on various prominent platforms, attaching a few links hereinbelow: Business Standard - https://www.business-standard.com/industry/news/godrej-consumer-products-signs-pact-to-acquire-muuchstac-in-all-cash-deal-125103101323_1.html Economic Times - https://retail.economictimes.indiatimes.com/news/food-entertainment/personal-care-pet-supplies-liquor/gcpl-q2-pat-down-6-5-pc-at-rs-459-34-cr-to-acquire-fmcg-biz-of-muuchstac-brand/124998946 Business World - https://www.businessworld.in/article/godrej-consumer-to-buys-men-s-brand-muuchstac-for-rs-449-cr-577903 Financial Express - https://www.financialexpress.com/business/industry/gcpls-q2-profit-slips-6-5-to-rs-459-crore-buys-muuchstac-brand-for-rs-449-crore/4028212/