Khaitan & Co advised Piramal Alternatives India Credit Opportunities Fund II on a private credit structured finance transaction with Saimirra Innopharm
Khaitan & Co advised Piramal Alternatives India Credit Opportunities Fund II on a private credit structured finance transaction involving the issuance and allotment by Saimirra Innopharm Private Limited of
- (i) secured optionally convertible debentures amounting to INR 85 crores,
- (ii) secured non-convertible debentures amounting to INR 75 crores.
The proceeds from the issuance were utilised, inter alia, for acquiring certain identified business undertakings and repayment of certain identified financial indebtedness of the company.
The khaitan Co team was led by Manisha Shroff (Partner), Mohit Nad (Principal Associate), Arjita Agarwal (Senior Associate), Khushboo Damakia (Associate), Gyana Pathak (Associate), and Ananya Bharadwaja (Associate), with assistance from Anshuman Sakle (Partner), Yatharth V Singh (Senior Associate), and Shubhanshu Jain (Associate) on competition law aspects.
The firm acknowledged the support of Fouzia Khan and Shaan Kalwani from the Piramal legal team, who were closely involved in the transaction.
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