RATAN TATA INVESTS IN OLA
Ratan Tata, the chairman emeritus of Tata Sons, invested an undisclosed amount in Ola Electric as part of its series A round of funding. The company called the investment “a significant endorsement of the company’s approach to developing an electric mobility ecosystem including innovations in charging infrastructure, [battery] swapping models, and market-appropriate products.”
Khaitan & Co advised Ola Electric. The firm was represented by partners Sharad Moudgal and Rishabh Bharadwaj and associate Anurag Singh.
Ola Electric is currently running several pilots involving charging solutions, battery swapping stations, and deploying vehicles across two, three and four-wheeler segments. Tata was an early investor in Ola’s parent company ANI Technologies.
GODREJ BUYS RK STUDIOS LAND
Family members of the late movie legend Raj Kapoor sold the iconic RK Studios land in Mumbai’s Chembur area to Godrej Properties, the real estate development company of the Godrej Group. The studio was opened in 1948 and served as the headquarters for Kapoor’s film production company.
IC Universal Legal advised the Kapoor family and the firm was represented by senior partner Bheru Choudhary, partner Yogesh Adhia and associates Kosha Shah, Smiti Singrodia, Isha Kalwant Singh and Laxman Jain.
CIE AUTOMOTIVE BUYS INTEVA
L&L Partners acted for and advised Inteva on the India elements of the sale of the US-based automotive company’s roof systems business to CIE Automotive for US$755 million.
The firm assisted Inteva with reverse due diligence, structuring and implementation of the pre-transaction carve-out of the business into a new special purpose subsidiary in India, and the subsequent transfer and sale to CIE. Other jurisdictions linked with steps in India included France, Germany, the Netherlands, Slovakia and the US. The L&L team comprised partner Vikrant Kumar and associates Bissheesh Roy and Anina D’Cunha.
CENTRE FOR SIGHT RAISES ₹2 BILLION
Mahindra Partners, the investment arm of conglomerate Mahindra & Mahindra, invested ₹2 billion (US$29.5 million) in New Delhi Centre for Sight (NDFCS) eye hospital.
Cyril Amarchand Mangaldas represented NDFCS and partners Akila Agrawal and Mukul Sharma worked on the matter. Rajaram Legal partners Archana Rajaram and Prasad Subramanyan represented Matrix.
PEPSICO SELLS BOTTLING ARM
J Sagar Associates (JSA) advised and assisted PepsiCo India on the sale of its bottling operations for its carbonated drinks business in seven states and five union territories in western and southern India to Varun Beverages Limited (VBL). VBL is now a franchise of PepsiCo’s beverages business across 27 states and seven union territories as well as its largest bottler in India.
The JSA team comprised partners Upendra Nath Sharma and Kartik Jain and associates Astha Srivastava and Ayushi Pandey.