Magenta EV Solutions Private Limited has raised an investment of approximately ₹180.6 crores ($22 million) from 2 investors – bp Technology Ventures and Morgan Stanley India Infrastructure Fund.
Luthra and Luthra Law Offices India acted as legal counsel to Magenta in this deal. The Firm was involved in (a) conducting legal due diligence, (b) structuring of the transaction, (c) drafting, negotiating, and finalizing transaction documents, including the share subscription agreement, shareholders’ agreement, disclosure letter, (d) assisting with closing formalities, and (e) coordinating with and advising the client on various aspects of Indian law.
The transaction team consisted of Deepak THM (Partner), Aishini Mandal (Associate) and Ayush Gattani (Associate).
Magenta is engaged in the business of electric mobility and EV charging and operates a technology platform to revolutionize and aggregate the urban freight & transportation segment both for employee transport and last-mile deliveries across the country with its state-of-the-art technology-enabled vehicles.
If you would like your Deals, Columns, Press Releases to be published on Bar & Bench, please fill in the form available here.