Deals in brief

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WIPRO BAGS CONTRACT

IndusLaw advised Alight Solutions in signing a 10-year deal with information technology company Wipro for a range of services. Wipro will earn revenues of US$1.5 billion from the Illinois-based human resources and finance solutions company making it Wipro’s largest deal to date.

IndusLaw advised Alight on all aspects of the transaction, including drafting, finalization and negotiation of transaction documents. The IndusLaw team was led by partners Gaurav Dani and Saurav Kumar.

AZB & Partners acted as the transaction advisory counsel for Wipro and was represented by partners Srinath Dasari and Bhuvana Veeraragavan. Kirkland acted as the US counsel for Alight Group.

SENCO GOLD FILES FOR IPO

J Sagar Associates (JSA) advised the book running lead managers in relation to the proposed initial public offering by Senco Gold. The jewellery retailer offered a fresh issue of equity shares aggregating up to `6 billion (US$84 million) and filed a draft red herring prospectus with the Securities and Exchange Board of India in August.

JSA advised IDFC Bank, ICICI Securities, IIFL Holdings, Emkay Global Financial Services and YES Securities (India). The firm’s team comprised partners Vikram Raghani and Arka Mookerjee, senior associates Pracheta Bhattacharya and Swapneil Akut, and associates Rushab Dhandokia, Krupa Brahmbhatt, Farah Titina and Ananth Balaji.

XIAOMI INVESTS IN ZESTMONEY

Link Legal India Law Services represented Chinese smartphone manufacturer and venture capital company Xiaomi when it led a series A round investment of US$13.4 million in the digital lending platform ZestMoney. The existing investors such as Omidyar Network, Ribbit Capital and PayU also participated in the round.

Partner Manish Gupta and principal associate Vinu Peter represented Link Legal. Gunderson Dettmer, Singapore, represented ZestMoney, while in-house legal teams advised the existing investors.

NCD ISSUE BY ECL FINANCE

Khaitan & Co acted as sole transaction counsel to ECL Finance in relation to the public issue of its secured redeemable non-convertible debentures (NCDs) of the face value of 1000, which aggregate to 20 billion (US$281 million). The Khaitan team consisted of partner Manisha Shroff, counsel Vaibhav Mittal, senior associate Rolwine Alva, and associates Jessica Gandhi, Meenakshi Kurpad and Enakshi Jha.

ECL Finance is the non-banking financial arm of Edelweiss Financial Services, which engages in lending and financing activities.

AZB ADVISES TATA MOTORS

AZB & Partners advised Tata Motors in the sale of the assets of its defence subsidiary, TAL Manufacturing Solutions (TAL), to Tata Advanced Systems for 1 billion (US$14.3 million). Tata Motors also sold all of TAL’s shares to Tata Advanced Systems for 6.2 billion. Partners Ashwin Ramanathan and Rushabh Maniar represented AZB on the deal.

The board of Tata Motors approved the sale and its completion is subject to regulatory and other approvals. TAL has been structured to deliver solutions through an aerospace business unit, a robotics and automation unit and a manufacturing solutions unit.