10 August, 2019
CDE Asia is in the business of manufacturing of wet processing equipment for quarries, mines and recycling operations in India and South East Asia. It has raised approximately INR 100 crores in fresh funding which is a mix of primary and secondary equity funding.
IIFL Special Opportunities Fund invested approximately INR 20 crores by way of a primary issue and a further INR 80 crores by way of a secondary purchase.
The transaction documents were signed on 27 June 2019 and the transaction closed on 19 July 2019.
Role – Jerome Merchant + Partners, Mumbai advised IIFL.
Members of JM+P team: The team was led by Partner Vishnu Jerome & Sameer Sibal along with Associates Rishabh Gupta & Nirav Bakshi.
Legal Advisors for the Company: Khaitan & Co. (Kolkata) advised CDE Asia
Members of Khaitan & Co., Kolkata Team: The team was led by Partners Arindam Sarkar and Suhana Islam Murshedd, Principal Associate Prithwijit Gangopadhyay, Senior Associate Shourya Sengupta along with Associates Sneh Lata, Aritri Roy Chowdhury and Sumantra Bose.
