Khaitan & Co advised Gokaldas Exports Limited in its proposed investment in fabric manufacturer BRFL Textiles Private Limited by subscribing Optionally Convertible Debentures.
Gokaldas Exports (GEX) has agreed to invest in BRFL Textiles Private Limited (BTPL) by subscribing through Optionally Convertible Debentures (OCD). In its first tranche, GEX will subscribe for INR 50 crores, with the remaining OCDs worth up to INR 300 crores to be subscribed subsequently in multiple tranches, depending on the funding requirements. These funds shall be utilised mainly to meet the working capital needs, with a smaller portion towards the capex requirements. Further, subject to the fulfilment of certain conditions and receipt of applicable regulatory, statutory, or other required approvals/consents, a possible merger or acquisition will be explored by 30th June 2025.
The core team consisted of Ashutosh Sharma (Partner), Neekesh Shetty (Principal Associate), Sushmita Ravi (Principal Associate), Anadi Saxena (Associate), Madhav Chandan (Associate), Atul Mohta (Associate) and Shilpa Shankar (Associate) with assistance from the following:
SEBI disclosures related advisory: Abhishek Dadoo (Partner), Gaurav Malhotra (Counsel) and Vritika Lakhwani (Associate);
Tax related aspects: Bhavin Vora (Executive Director) and Kshamin Shah (Senior Associate);
CCI related aspects: Anshuman Sakle (Partner) and Tanveer Verma (Principal Associate);
Banking related aspects: Rahul Chakraborti (Partner), Rishabh Mukund Vora (Counsel) and Manas Pandey (Principal Associate);
Real estate related diligence and support: Harsh Parikh (Partner), Karan Thakkar (Associate) and Nupur Antrolikar (Associate);
Employment related diligence: Deepak Kumar (Partner) and Sidheswar Sahoo (Associate);
Intellectual Property related diligence: Shailendra Bhandare (Partner), Sourav Dan (Principal Associate) and Kinjal Parikh (Associate).
