Lakshmikumaran and Sridharan advise IndiaMart InterMesh
The law firm, with offices in 14 cities, assisted the investor in deal structuring and negotiations
Lakshmikumaran and Sridharan (LKS) has represented IndiaMart InterMesh Limited to lead a fresh round of funding in Fleetx Technologies Private Limited.
It was done to raise USD 19.4mn in the fleet management platform in India. Along with IndiaMart, existing investors IndiaQuotient and Beenext also participated in the funding.
LKS provided IndiaMart with an end-to-end transaction advisory for the investment process, along with conducting legal due diligence. The firm also assisted the investor in deal structuring, negotiations and finalization of transaction documentation.
The law firm’s transaction was led by partner Kunal Arora (partner) and his team including Gunmeher Juneja (principal associate), Nayanika Majumdar (senior associate), Archit Gupta (associate), Pragya Pandey (associate), Akhil Kumar (associate), and Narahari Pulikollu (consultant).
Speaking on the occasion, Arora said, “The deal was interesting as it involved negotiations for the alignment of rights of multiple investors. It also entailed a detailed analysis of the extensive business operations supported by a large workforce. This is a significant deal as it marks the expansion of IndiaMart’s portfolio into transportation visibility space, which is witnessing accelerated growth in an otherwise highly non-digitized logistics industry.”
Grant Thornton advised IndiaMart on the financial aspects and J Sagar & Associates were the legal advisors to the company and the selling shareholders.
About Lakshmikumaran & Sridharan
It is a premier full-service Indian law firm specializing in areas including corporate and mergers and acquisitions, private equity, dispute resolution, taxation and intellectual property. Through its 14 offices across India, the firm works closely on litigation and commercial law matters, advising and representing clients in India and abroad.
LKS has handled over 30,000 litigation cases before various forums including 2,000 cases before the Supreme Court of India. Over the last 37 years, the firm has worked with over 15,500 clients ranging from start-ups, small & medium enterprises, to large Indian corporates and multinational companies.
The professionals within the firm bring diverse experience to service clients across sectors such as commodities, automobile, manufacturing, healthcare, information technology, information technology-enabled services, fast-moving consumer goods, hospitality, real estate, petrochemicals, e-commerce, fintech, big data, renewables, cryptocurrency, gaming and sports.