JSA, Khaitan & Co, Argus Partners act on IndiaRF acquiring majority stake in Ashok Iron Works' casting and machining business

India Resurgence Fund, has acquired a significant majority stake in Fine Edge Engineering Private Limited (housing the precision machined castings business of Ashok Iron Works Group).

JSA Advocates and Solicitors advised Fine Edge Engineering and its related entities which house the iron casting and machining business of the Ashok Iron Works and its related entities.

The transaction team was led by Sidharrth Shankar (Partner), with Prakriti Jaiswal (Partner) and Dhruv Malhotra (Partner), with support from Rishika Agarwal (Senior Associate), Kirti Vardhan Singh (Associate) and Vadi PS (Senior Company Secretary).

Khaitan & Co advised India Resurgence Fund on this transaction.

The transaction team consisted of Kartick Maheshwari (Partner), Shantanu Gupta (Partner), Debottam Chattopadhyay (Principal Associate), Ifrazunnisa Khan (Principal Associate), Shruti Jaju (Senior Associate), Chaitanya Kishore Sunkara (Associate) with assistance from the following:

Ancillary corporate matters and closing assistance: Aishwarya Nagpal (Partner), Ashutosh Sharma (Partner), Madhav Chandan (Senior Associate), Hardik Adlakha (Senior Associate), Poojita Saxena (Senior Associate) and Radhika Goenka (Senior Associate);

Real Estate: Sudheer Madamaiah (Partner), Kartik Shiv Kumar (Counsel) and Shambhavi Kashyap (Associate);

Competition Law: Anisha Chand (Partner), Soham Banerjee (Counsel) and Yatharth V Singh (Senior Associate);

Litigation: Sanjeev K Kapoor (Senior Partner), Sneha Janakiraman (Partner), Saloni Gupta (Principal Associate) and Yashwant Gaggar (Senior Associate);

Employment: Deepak Kumar (Partner) and Varsha Sankara Raman (Senior Associate);

Data Privacy: Supratim Chakraborty (Partner), Sumantra Bose (Partner) and Shramana Dwibedi (Principal Associate);

Intellectual Property: Nirupam Lodha (Partner) and Malika Nandkeolyar (Principal Associate);

Energy: Atman Jwalant Desai (Partner) and Ayushi Chaudhary (Principal Associate).

Argus Partners advised India Resurgence Fund in connection with the financing of the acquisition.

The transaction team consisted of Aastha (Partner), Aseem Dhawan (Partner) and Surabhi Smita (Associate).

Ashok Iron Works Group is a market leader in the manufacturing of machined iron castings, operating 4 foundries and 7 machine shops in Belagavi, Karnataka. The Company manufactures engine blocks, engine heads and transmission housings ranging from 20 kg to 5,000 kg and one of the few Indian players with the capability to manufacture such engine blocks, serving diversified end-markets including industrial engines, farm equipment and automotive.

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