Cyril Amarchand Mangaldas advised consortium of lenders led by Kotak Mahindra Bank Limited (Kotak) in relation to the provision of financial assistance to Spaceway Wellness Private Limited (Spaceway Wellness) by way of a long-term rupee term loan facility of INR 550 crores and a short-term rupee term loan facility of INR 600 crores for the purpose of inter alia financing the acquisition of shares of Indira IVF Hospital Private Limited (Indira IVF) from exiting shareholders and repayment of promoter loans.
The Projects & Project Finance, and Disputes Practices of Cyril Amarchand Mangaldas advised the lenders on the Transaction. The Transaction team consisted of Subhojit Sadhu, Partner; Nandita Menon, Principal Associate; Shehryar Khanum, Consultant; Aayushi Bindal, Associate; and Tanishka Lall, Associate.
The Litigation diligence and advisory was led by Ankoosh Mehta, Partner; with support from Aviral Sahai, Principal Associate; and King Dungerwal, Associate.
Mr. L. Viswanathan, Partner; advised on structure and litigation aspects of the transaction.
Other Parties and Advisors to the transaction included:
Kotak Mahindra Bank Limited, Hero Fincorp Limited, Tata Cleantech Capital Limited, Axis Finance Limited and Aditya Birla Finance Limited (together as Lenders); Spaceway Wellness Private Limited (Borrower); Indira IVF Hospital Private Limited (Target Company); Catalyst Trusteeship Limited (Agent & Security Trustee); Vanja Business Advisors Private Limited (Financial advisors to Borrower group); TA Associates (Advisors to Borrower group). The Transaction was signed on 8th May, 2022; and closed on 11th May, 2022.
About Cyril Amarchand Mangaldas
Cyril Amarchand Mangaldas (cam) is India’s leading law firm with a global reputation of being trusted advisers to its clients. The Firm advises a large and diverse set of clients, including domestic and foreign commercial enterprises, financial institutions, private equity and venture capital funds, start-ups, government and regulatory bodies. The Firm generalists, specialists and senior ex-regulators expertly guide clients across a spectrum of transactions, sectors and regulations. With 1000 lawyers and 160 Partners, the Firm is the largest full-service law firm in India and offices in key business centres at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City and also in Singapore.
The Firm recently received “Innovation in Advancing Markets” award at the FT Innovative Lawyers Asia Pacific 2022 Awards and the “National Law Firm of the Year: India” award at the IFLR Asia Pacific 2022 awards ceremony. The Firm had won “India Deal Firm of the Year” at the ALB India Awards and “Firm of the Year” at the IFLR1000 India Awards in 2021.
