SAM, Trilegal, IndusLaw act on acquisition of stake in Maini Precision Products by Ring Plus Aqua

Ring Plus Aqua Limited (RPAL) has made a strategic acquisition of a 59.25% stake in Maini Precision Products Limited (“MPPL”) by way of acquisition of equity shares of MPPL from Gautam Maini, Sandeep Kumar Maini, Maini Family Trust, KMaini Motorsports India Private Limited (collectively, the “MPP Group Members”), Paragon Partners Growth Fund - I and Amit Mohatta (together, the “Minority Investors”).

The strategic acquisition was valued approximately at ₹682 crore.

The strategic acquisition is to be followed by the consolidation of businesses of JK Files & Engineering Limited (JK Files), RPAL and MPPL by way of a composite scheme of arrangement in the following manner: (i) demerger of JK Files involving the engineering business of JK Files and investments of JK Files in RPAL and JK Talabot Limited, into a wholly owned subsidiary of Raymond Limited (NewCo); and (ii) the merger of MPPL and RPAL with the NewCo.

Shardul Amarchand Mangaldas & Co advised Ring Plus Aqua on this transaction.

The transaction team was led by Manav Nagaraj (Partner), Anuj Bhasme (Partner), KS Bhargava (Partner), Apeksha Narula (Senior Associate), Tarun Reddy, Anusha Chand and Viraj Vaidya (Associates).

The diligence team was led by Manav Nagaraj (Partner), Anuj Bhasme (Partner), Pooja Ramchandani (Partner), KS Bhargava (Partner), Kriti Kaushik (Partner), Karan Joseph (Partner), Apeksha Narula, Smita Rakshale, Pravardhan Urs (Senior Associates), Tarun Reddy, Anusha Chand, Aakash Rao, Viraj Vaidya, Gawry Cootaiah, Istuti Kapoor, Sanskriti Nigam and Shalini Prem (Associates).

The competition team was led by Gauri Chhabra (Partner), Gargi Yadav (Consultant), Anjana Ravikumar and Ujwala Kishore Adikey (Associates).

Trilegal advised MPPL and MPP Group Members on the legal and tax aspects.

IndusLaw advised Minority Investors on the legal aspects.

EY advised MPPL and MPP Group Members on the legal and tax aspects.

KPMG, Dhruva Advisors LLP, and Alvarez and Marsal advised RPAL on the tax and financial aspects respectively.

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