Krishnamurthy and Co | View firm profile
Krishnamurthy & Co. (K Law) advised Axis Bank Limited, as the lenders’ legal counsel, in connection with granting certain credit facilities aggregating up to INR 687 Crore to Synthimed Labs Private Limited, a global leader in the pharmaceutical industry. Synthimed Labs Private Limited, headquartered in Chandigarh, and backed by a major India focussed alternative investment fund, is a market leader in manufacturing of active pharmaceutical ingredients, other pharmaceutical formulations, and contract research and manufacturing services.
The borrower will utilise the credit facilities availed from Axis Bank Limited for refinancing various debts raised by it including by issue of non-convertible debentures and for various capital expenditure purposes.
K Law was involved in structuring the transaction and in drafting, negotiating, and closing the financing documents including all security documents. K Law also advised Axis Bank Limited on various legal aspects of the structure and in relation to the transaction from time to time.
The transaction was led by Zeeshan Khan (Partner) assisted by Anirban Roy Choudhury (Principal Associate) and supported by a team of associates.
K Law team comprising of Zeeshan Khan and Anirban Roy Choudhury along with a team of associates also advised Axis Bank Limited, HDFC Bank Limited, and ICICI Bank Limited in connection with granting credit facilities aggregating up to INR 1100 Crore to Synthimed Labs Private Limited in 2024 for its acquisition of the active pharmaceutical ingredients and contract research and manufacturing services business of Ind Swift Laboratories Limited on a slump sale basis.
Synthimed Labs is a leading pharmaceutical company catering to diverse therapeutic areas, such as oncology, cardiovascular, anti-infectives, anti-diabetic, anti-histamine, anti-psychotics, etc. with a global dominance in the macrolide antibiotic segment.