The details of the deal are as follows:
Sector: Banking and Finance
Announcement Date: 16-Jun-2021
Completion Date: 16-Jun-2021
Name of Client: JM Financial Products Limited
JM Financial Products Limited, a non-banking finance company, engages in financing activities in India.
Deal Description: Advised the investors and arranger in relation to the structured acquisition finance transaction involving issuance of senior, secured, listed, rated non-convertible debentures aggregating to INR 1500 crores by Flometallic India Private Limited (TVS group company) on private placement basis. JM Financial Limited acted as an Arranger to the Issue. The proceeds of the issue have been utilized for financing the purchase consideration payable for acquisition of 32% equity share capital of Brakes India Private Limited (“BIL”) from ZF International UK Limited (“ZF”).
Total Consideration: INR 1500 crore (USD 204 million)
Team Members: Manisha Shroff (Partner), Riya Bhattacharjee (Principal Associate), Sonakshi Faujdar (Associate), Sakshi Dhapodkar (Associate), Akshansh Sharma (Associate)
Role of Firm: Acted as the sole transaction counsel and worked on the following: