DMD Advocates

DMD Advocates acted as legal counsel to Maschinenfabrik Reinhausen and Sukrut Electric Company Pvt. Ltd. in connection with the sale of 100% of the equity share capital of Sukrut Electric to Quality Power Electrical Equipments Ltd. and Yash Highvoltage Ltd., both listed entities. The transaction was completed following the fulfilment of all conditions precedent on December 16, 2025. Sukrut Electric, a Pune-based manufacturer of transformer components with a long-standing presence in the industry, will continue its operations under the new ownership, with a focus on preserving its engineering expertise, customer relationships, and long-term value creation. DMD Advocates was engaged to provide comprehensive legal support to the German sellers on this matter, including structuring, negotiation of the definitive agreements and ancillary documentation, and assistance with closing-related matters. The transaction was led by Monika Deshmukh (Partner) along with Vanshikha Choraria (Associate) and Nardeep Chawla (Associate). Read more: https://transformers-magazine.com/tm-news/sukrut-electric-completes-ownership-transition/

DMD Advocates acted as legal counsel to Noble Seeds Private Limited in connection with the proposed acquisition of 100% of its equity share capital by Nunhems India Private Limited, a BASF group company. The transaction will be implemented through a share purchase agreement entered into by Nunhems with the shareholders of Noble Seeds. Nunhems, which houses BASF’s vegetable seeds business in India, will, pursuant to the acquisition, further strengthen its market leadership in the Indian vegetable seeds segment. Noble Seeds Private Limited is a vegetable seed company headquartered in New Delhi, India. With a team of over 150 employees and a pan-India presence, Noble Seeds is among India’s fastest-growing vegetable seed companies and is a leading seller of cauliflower hybrid seeds in the country.   DMD has been engaged to provide end-to-end legal support to Noble Seeds and its shareholders on this transaction, including structuring, negotiation of the share purchase agreement and ancillary documents, and assistance on closing-related matters.   The transaction is being led by Vihang Virkar (Lead Partner, Mumbai Corporate Practice Group), along with Monika Deshmukh (Partner), Vanshikha Choraria (Associate), and Nardeep Chawla (Associate).   Vihang Virkar Monika Deshmukh

DMD Advocates advised Matching Pants Private Limited, a company engaged in designing, manufacturing, and retailing of ready-made garments and related merchandise under the brand name “Philocaly”, on an equity investment by FEF Global Private Limited. FEF, an initiative of the India Fashion Awards, operates as a venture studio supporting high-potential consumer brands. The investment transaction was pursuant to the Jio-Hotstar live-action series “Pitch to Get Rich”. DMD Advocates was involved in drafting, negotiating, and finalizing the transaction documents. The transaction was led by Tarinee Sudan (Partner), along with Srishti Pandey (Associate).

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).

DMD Advocates advised Indian Metals & Ferro Alloys Limited (IMFA), India’s leading fully integrated producer of value-added ferro chrome, on its acquisition of Tata Steel Limited’s ferro chrome plant set up on 115 acres of land, located at Kalinganagar, Odisha, by way of an asset purchase transaction. Under the definitive agreements, IMFA will acquire 99 MVA furnace capacity (66 MVA existing and 33 MVA under construction) for a base purchase consideration of ₹610 crore. DMD was involved in legal due diligence, as well as drafting, negotiating, and finalizing the transaction documents. The transaction was led by Rashi Dhir (Senior Partner & Head of Corporate), along with Tarinee Sudan (Partner), Shubhangi Bhatnagar (Principal Associate), Aditi Kumari (Associate), Srishti Pandey (Associate), Jasmine Brar (Associate), Sarvagya Shankar (Associate), and Shriya Sehgal (Associate).

DMD Advocates advised Elite Mindset Private Limited (owner of the SuperYou), along with Think9 Consumer Technologies and Nikunj Biyani, in connection with the legal documentation for the investment by Rainmatter Investments, a venture capital arm of Zerodha, and Gruhas Collective Consumer Fund, which is backed by Nikhil Kamath and Abhijeet Pai. Elite Mindset was founded by Nikunj Biyani, and is supported by Think9 Consumer Technologies, a multi-brand platform backed by Ashni Biyani. In November 2024, actor Ranveer Singh acquired a 50% stake in Elite Mindset. The company’s flagship brand, SuperYou, currently offers protein bars and plans to expand into adjacent health-focused categories, targeting health-conscious Indian consumers. The transaction was led by Vihang Virkar (Lead Partner, Mumbai Corporate Practice Group), along with Monika Deshmukh (Partner), Pooja Shah (Principal Associate), and Vanshikha Choraria (Associate).

DMD Advocates advised Indian Metals and Ferro Alloys Limited (IMFA), India’s leading fully integrated producer of value-added ferro chrome, on its power purchase arrangement with and investment in AMPIN Energy Utility One Private Limited (AMPIN). Under this arrangement, IMFA is investing in AMPIN for the supply of hybrid renewable power of 40 MW Contracted Demand (solar capacity of 58 MW AC & wind capacity of 58 MW), under ‘captive generating plant’ model. As part of the arrangement, IMFA has committed to invest INR 61.60 crore in one or more tranches in the project entities. DMD was involved in legal due diligence, as well as drafting and negotiating the transaction documents. The transaction was led by Rashi Dhir (Senior Partner & Head of Corporate), along with Tarinee Sudan (Partner), Priyanka Hazarika (Senior Associate), Aditi Kumari (Associate), Jasmine Brar (Associate), and Kashish Ali (Associate).

DMD Advocates advised NDR Auto Components Limited (NDR) in connection with its joint venture with Hayashi Telempu Corporation (Hayashi) to bring to the Indian market a range of innovative and disruptive offerings for vehicles from Hayashi. The joint venture company is proposed to be engaged in the manufacturing of auto components such as ambient light, carpet, dash inner, rear shade, and toner cover. NDR and Hayashi will hold 50:50 shares in the joint venture. The transaction was led by Pallavi Puri (Partner), Aishwarya Gupta (Senior Associate), and Srishti Pandey (Associate), with strategic inputs from Rashi Dhir (Senior Partner & Head of Corporate).    

The Supreme Group, a global leader in auto components, advanced material technologies, and engineered product solutions, announced the successful acquisition of full ownership of Supreme Feltol (Thailand) Company Limited, following the acquisition of shareholding from local Thai shareholders. DMD Advocates acted for the entities forming part of the Supreme Group in acquiring ownership of Supreme Feltol in Thailand. The firm advised the Supreme Group entities on the acquisition process, transaction documentation, and regulatory matters. Watson Farley & Williams, Thailand, and DFDL, Thailand, worked with DMD Advocates on this transaction. The transaction was led by Vihang Virkar (Lead Partner, Mumbai Corporate Practice Group) and Ayesha Rai (Partner), along with Vanshikha Choraria (Associate).

DMD Advocates advised Think9 Digital Consumer Brands (Broadway) and its Promoters on the legal documentation for a strategic investment by Gruhas Proptech, an investment firm led by Nikhil Kamath and Abhijeet Pai. Founded in March 2023 by Vivek Biyani, along with Rana Daggubati, Anuj Kejriwal, and Apurva Salarpuria, Broadway aims to ease the omnichannel transition of D2C brands via super stores. The Broadway-Gruhas collaboration marks a significant milestone in the experiential commerce model, fostering growth and deeper consumer engagement. The transaction was led by Vihang Virkar (Lead Partner, Mumbai Corporate Practice Group), along with Monika Deshmukh (Partner), Pooja Shah (Principal Associate), and Vanshikha Choraria (Associate).

DMD Advocates advised Innov8 Workspaces India Limited (formerly known as Oyo Workspaces India Private Limited),a company providing flexible workspace solutions under the brand name “Innov8,” and its shareholder, Oyo Hotels and Homes Private Limited (subsidiary of Oravel Stay Private Limited), in a secondary sale and primary investment by InCred Wealth and Investment Services Private Limited in Innov8 Workspaces India Limited. The funding round was priced at a valuation of INR 1,000 crore. While the deal size remains confidential, it exceeds USD 10 million. This marks the beginning of a successful growth phase for Innov8 in the ever evolving and growing workspace business. The company plans to leverage this fresh infusion to accelerate its expansion in India, aiming to double its coworking centers to 100 by 2025. The transaction was led by Pallavi Puri (Partner), along with Shubhangi Bhatnagar (Principal Associate) and Arnav Mithal (Associate), under the guidance of Rashi Dhir (Senior Partner & Head of Corporate) and the corporate leadership of Rakesh Prusti (Group General Counsel, OYO Group) and Anshuman Singh (AVP Legal, OYO Group).