Fox & Mandal Advises Topline Industries And Subsidiaries

Fox & Mandal advised Topline Industries Private Limited (Topline), a manufacturer of PVC Pipes and Water Tanks in India, along with four other entities, namely, Crestia Polytech Private Limited, Aditya Polytechnic Private Limited, Sainath Polymers and Aditya Industries in the acquisition of 100 per cent of its equity share capital by HIL Limited, a flagship company of the CK Birla Group, at an aggregate enterprise value of INR 265 Crores.

HIL Limited's strategic acquisition is aimed at expediting the company's growth trajectory within the INR 55,000-Crore Indian PVC pipes and fittings market, while further solidifying its market position in eastern India.

The Fox & Mandal team assisted in structuring the transaction, reviewing, negotiating and finalising the transaction documents including drafting the share subscription and purchase agreement, share subscription agreements for all entities, drafting disclosure letters, board resolutions, and providing general legal advice throughout the transaction on various issues.

The Fox & Mandal team representing Topline and its subsidiaries in this transaction was led by Mr. Debanjan Mandal, Managing Partner, and Mr. Arindam Sarkar, Partner and included Ms. Anwesha Sinha, Associate, and Ms. Trisha Agarwala, Associate.

Fox & Mandal Consulting Solutions Private Limited (FMCSPL) undertook the financial and tax advisory for the transaction. The FMCSPL team was led by Mr. Prashant Khandelwal, Director and included Sharad Agarwal, Director Associate.