SAM advises Kotak Investment Advisors in its investment in non-convertible debentures issued by Bharat Hotels

  

Shardul Amarchand Mangaldas & Co. advised Kotak Real Estate Fund X, a fund managed by Kotak Investment Advisors, in connection with its investment in the non- convertible debentures issued by Bharat Hotels Limited (“BHL”) (parent entity of the LaLiT Hospitality Group which owns and operates 13 luxury hotels, spa and resort properties in India). The date of closing was January 31, 2023 and the deal was valued at USD 135 million approximately. 

This issuance will help BHL to strengthen its position in the hospitality industry and provide an opportunity for investors to invest in the growing hospitality sector of India.

The transaction team was led by Veena Sivaramakrishnan, Partner; Zubin Mehta, Partner; Yash Kahandole, Senior Associate; Jasraj Narula, Senior Associate; Milind Rai, Associate; and Sirhaan Seth, Associate.

The due diligence team was led by Veena Sivaramakrishnan, Partner; Zubin Mehta, Partner; Lalan Gupta, Partner; Bhoumick Vaidya, Partner; Mohit Bhatia, Counsel; Sanjana Rao, Senior Associate; Yash Kahandole, Senior Associate; Anuj Loya, Associate; Milind Rai, Associate; Aditi Tomar, Associate; and Sirhaan Seth, Associate.

The real estate due diligence team was led by Mrinal Kumar, Partner; Shrutikirti Kumar, Partner; Rachna Bagri, Counsel; Arnav Sahni, Senior Associate; and Asmita Hegde, Associate.

S&R Associates acted as the legal counsel for BHL.

About Shardul Amarchand Mangaldas & Co.:

Shardul Amarchand Mangaldas & Co., founded on a century of legal achievements, is one of India’s leading full-service law firms. The Firm’s mission is to enable business by providing solutions as trusted advisers through excellence, responsiveness, innovation, and collaboration. SAM & Co. is known globally for its exceptional practices in mergers & acquisitions, private equity, competition law, insolvency & bankruptcy, dispute resolution, capital markets, banking & finance, and projects & infrastructure.

 The Firm has a pan-India presence and has been at the helm of major headline transactions and litigations in all sectors, besides advising major multinational corporates on their entry into the Indian market and their business strategy. Currently, the Firm has over 750 lawyers including 160 Partners, offering legal services through its offices in New Delhi, Mumbai, Gurugram, Ahmedabad, Kolkata, Bengaluru, and Chennai.

 

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