DSK Legal advised IndoSpace, in setting up a joint venture platform (JV) with Pune-based KSH Infra, with an aim to develop 10 million square feet portfolio of world-class warehousing and logistics parks across the country over the next five years. Indospace, is a joint venture between the Everstone Group, an India and Southeast Asia-focused private equity and real estate investor, GLP and Realterm, a US-based global industrial real estate group. KSH Infra, also a warehousing and logistic parks developer, is part of the 50-year old KSH Group which has multiple businesses such as internal container depot, manufacturing, and third-party logistics.
The JV will focus on premium micro-markets such as Pune, Mumbai, Delhi-NCR and Bengaluru and the focus of the partnership will be on developing sustainable and resource-efficient assets that will have zero-carbon footprint ensuring energy and water savings. As a part of the arrangement under the JV, Indospace has agreed to invest ₹1,000 crore in the JV, whilst KSH Infra will primarily be responsible for identifying and developing the assets and shall also be co-investing in the assets along with IndoSpace.
DSK Legal advised Indospace in setting up the JV and in drafting, negotiating and finalizing the various transaction documents with respect to setting up of the JV. The DSK Legal team was led by deputy managing partner, Sajit Suvarna and partner, Saloni Mody & accompanied by Harini Sutaria (senior associate) and Nancy Neekhra (associate).
KSH Infra was advised by Desai Diwanji.
Avendus Capital acted as financial advisors for the transaction and PricewaterhouseCoopers acted as tax advisors.