Cyril Amarchand Mangaldas acted as the legal counsel for iLink Group (iLink) and founder Sreebalaji KS, in relation to its USD 75 million fundraising from True North.
The General Corporate Practice of Cyril Amarchand Mangaldas advised on the transaction and setting up of private trust for the promoter group. The transaction team was led Amarta Roy, Partner; Vishwanath Pratap Singh, Partner; Aatmin Shah, Principal Associate; Nikhil Variyar, Senior Associate; Radhika Shukla, Associate; Mishika Ravishankar, Associate and Aashna Lakhotia, Associate.
The firm’s private client practice team lead by Radhika Gaggar, Partner and Co-Head, Private Client Practice; Shaishavi Kadakia, Partner; with support from Radhika Parthasarathy, Associate; assisted the client in relation to estate planning.
As a part of the transaction, iLink, its founder, Sreebalaji KS and other members of the founder group entered into definitive agreements with Hale Vitals LLP (“True North“), pursuant to which, True North will, by way of both primary and secondary acquisition, invest USD 75 million in iLink, for a minority interest in iLink. This investment is intended to fund the future growth prospects of the iLink, which includes significant operations abroad. The transaction was subject to completion of standard conditions precedent.
Additionally, given the existing group structure, it was considered prudent to create a family trust for the promoter group for estate planning purposes. The firm’s private client practice team assisted the client through the process from conceptualisation to execution of the trust deed and other key transaction documents relating thereto.
The parties and advisor to the transaction included Lincoln International (acted as investment banker for iLink Group); Taft Law (acted as International legal counsel for iLink Group); and Foley & Lardner (acted as International legal counsel for True North), and Khaitan & Co (acted as Indian legal counsel for True North).
The transaction was signed on 27th August, 2023; and concluded on 03rd October, 2023. _____________________________________________
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.
