IndusLaw Advised Vascon Engineers And GMP Technical Solutions On Sale Of Stake To Shinryo Corporation

IndusLaw Advised Vascon Engineers And GMP Technical Solutions On Sale Of Stake To Shinryo Corporation

IndusLaw has successfully advised Vascon Engineers Limited and GMP Technical Solutions on the sale of an 84.99% stake in GMP Technical Solutions to Shinryo Corporation. Shinryo, a leading Japanese conglomerate, acquired the majority stake in GMP Technical Solutions, India’s second-largest manufacturer of clean room equipment.

The transaction, which is subject to regulatory and other approvals, marks a significant strategic move for both parties. The sale will allow Vascon Engineers, a Pune-based engineering and real estate firm, to exit a non-core asset and focus on its real estate business. Vascon originally acquired its stake in GMP Technical Solutions in 2010.

This acquisition positions Shinryo to strengthen its foothold in India’s growing clean room partitions market, driven by increasing demand for clean room partitions coming from sectors such as electronics and semiconductor manufacturing, as well as batteries.

The IndusLaw team advising on this transaction was led by Partner Minhaz Lokhandwala, Principal Associate Vwastav Ghosh, and Associate Yashovardhan Kedia.

Mori Hamada & Matsumoto and DSK Legal provided legal advice to Shinryo Corporation on this deal.