Balkrishna Industries Limited (BKT Tyres) has entered into a strategic agreement with Pirelli to capture opportunities in the Indian car tyre market.

Khaitan & Co advised BKT Tyres on this transaction.

The core team consisted of Purti Minawala (Partner), Ayush Sinha (Principal Associate), Abhijeet Kamath (Principal Associate), Associates Shanay Patrawala and Manvi Talwar.

The following provided assistance:

Litigation aspects: Sanjeev Kapoor (Senior Partner);

Listed entity obligations: Sudhir Bassi (Executive Director);

Indirect Tax aspects: Sudipta Bhattacharjee (Partner);

Direct Tax aspects: Rahul Jain (Partner) and Krishnal Agrawal (Associate);

Intellectual Property aspects: Adheesh Nargolkar (Partner), Shailendra Bhandare (Partner), Janaksinh Jhala (Counsel) and Abhishek Kumar (Principal Associate);

Competition law aspects: Anshuman Sakle (Partner) and Alisha Mehra (Principal Associate);

Employment law aspects: Deepak Kumar (Partner);

Execution aspects: Atman Desai (Partner) and Vivan Jhaveri (Associate).

The first phase is an off-take agreement through which BKT will produce, in one of its own newly constructed plants equipped with the most advanced technology, up to 800,000 Pirelli-branded tyres by 2030 with Pirelli’s specific technological and quality standards. 

This agreement paves the way for a second phase which envisages, subject to conditions, the creation of a 50-50 joint venture and the construction of a production plant dedicated to High Value car tyres, both with the Pirelli brand and the BKT brand to serve India and other international markets. A joint venture term sheet was signed by both parties in relation to the same.

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