DMD Advocates

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).