Cyril Amarchand Mangaldas advised on iLink Group's fundraise from True North
Cyril AmarchandMangaldas acted as the legal counsel for iLink Group and founder Sreebalaji KS, in relation to its USD 75
Cyril Amarchand Mangaldas advised on iLink Group's fundraise from True North
Cyril AmarchandMangaldas acted as the legal counsel for iLink Group (iLink) and founder Sreebalaji KS, in relation to its USD 75 million fundraising from True North.
As a part of the transaction, iLink, its founder, Sreebalaji KS and other members of the founder group entered into definitive agreements with Hale Vitals LLP ("True North"), pursuant to which, True North will, by way of both primary and secondary acquisition, invest USD 75 million in iLink, for a minority interest in iLink.
This investment is intended to fund the future growth prospects of the iLink, which includes significant operations abroad. The transaction was subject to completion of standard conditions precedent.
Additionally, given the existing group structure, it was considered prudent to create a family trust for the promoter group for estate planning purposes.
The firm's private client practice team assisted the client through the process from conceptualisation to execution of the trust deed and other key transaction documents relating thereto.
The General Corporate Practice of Cyril Amarchand Mangaldas advised on the transaction and setting up of private trust for the promoter group. The transaction team was led Amarta Roy, Partner; Vishwanath Pratap Singh, Partner; Aatmin Shah, Principal Associate; Nikhil Variyar, Senior Associate; Radhika Shukla, Associate; Mishika Ravishankar, Associate and Aashna Lakhotia, Associate.
The firm's private client practice team lead byRadhika Gaggar, Partner and Co-Head, Private Client Practice; Shaishavi Kadakia, Partner; with support from Radhika Parthasarathy, Associate; assisted the client in relation to estate planning.
The parties and advisor to the transaction included Lincoln International (acted as investment banker for iLink Group); Taft Law (acted as International legal counsel for iLink Group); and Foley & Lardner (acted as International legal counsel for True North), and Khaitan & Co (acted as Indian legal counsel for True North).
The transaction was signed on 27th August, 2023; and concluded on 03rd October, 2023.