SNG & Partners Assists BanyanTree India Growth Capital Fund In Relation To Its Investment In PXIL

SNG & Partners acted as legal counsel to BanyanTree India Growth Capital Fund (BanyanTree) in relation to its investment in Power Exchange India Limited (PXIL) – India’s first institutionally promoted power exchange which provides innovative and credible solutions to transform Indian power markets. PXIL is promoted by National Stock Exchange and National Commodity & Derivatives Exchange (NCDEX). The transaction involved secondary trade between BanyanTree and NCDEX, being the existing promoter of PXIL.

BanyanTree invests in mid-market companies in India and strives for development outcomes along with its investment activities by ESG focus and alignment with SDGs. NCDEX is a professionally managed on-line commodity exchange with diverse product offerings setting a benchmark for both agriculture and non-agri commodities derivatives segment.

SNG & Partners played key role in drafting, negotiating and finalizing the transaction documents including the share purchase agreement and shareholders agreement.

Amit Aggarwal (Managing Partner (Corporate & Non-Contentious Practice)) acted as engagement partner for the transaction.

The transaction team consisted of Aditya Vikram Dua (Partner), Aniket Sawant (Principal Associate) and Parvathi Menon (Associate).