Cyril Amarchand Mangaldas acted as the legal advisor to JSW Paints Private Limited (JSW Paints) for the strategic investment of INR 750 crore (Indian Rupees Seven Hundred and Fifty crore), by JSW Steel Limited (JSW Steel) into JSW Paints.
The General Corporate Practice Team of Cyril Amarchand Mangaldas advised on the transaction. The Transaction team was led by Gautam Gandotra, Partner; with support from Arnav Shah, Principal Associate; Aseem Sahni, Senior Associate; Shailendra Shukla, Associate; and Swathi Kathi, Associate.
As part of the transaction, JSW Paints issued equity shares to JSW Steel aggregating to 12.84% (11.85% on a fully diluted basis) of the equity share capital of JSW Paints.
The transaction was signed on 23rdJuly 2021 and closed on 22nd November 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. The Firm is one of the largest full-service law firm in India and offices in key business centers at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City and also in Singapore.
The Firm received “National Law Firm of the Year: India” at the IFLR Asia-Pacific Awards for the second consecutive years in 2023 and 2022 and “Innovation in Advancing Markets” award at the FT Innovative Lawyers Asia Pacific 2022 Awards. 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 2022.
