Cyril Amarchand Mangaldas (“CAM”) acted as legal advisors for JSW Defence Private Limited, part of the JSW Group, in relation to its strategic partnership with Shield AI, a US defence tech company, to manufacture Shield AI’s V-BAT, a Group 3 Unmanned Aerial System in India. As part of the above partnership, the JSW Group will invest approximately USD 90 million in the next 2 years to build a local supply chain and set up state-of-the art manufacturing facility in India for manufacturing, assembling and testing V-BATs in India, to meet the production needs of the Indian Armed Forces and serve as a global manufacturing hub for Shield AI.
The transaction was led by Soumya Srivastava, Partner, and L.Viswanathan, Senior Partner provided support for the transaction, with further support from Shashank Ugrankar, Principal Associate, Kushal Tekriwal, Associate; and Ilina Peehu, Associate.
Advice on the intellectual property related matters was provided by Aarushi Jain, Partner; assisted by Pooja Kapadia, Principal Associate.
Inputs from a defence perspective were provided by Anandita Kaushik Partner.
Other parties to the transaction included: Shield AI Inc. (Acted as seller); and PwC (Acted as advisory to JSW Group Limited).
The transaction was signed on 24th October, 2024.
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