Khaitan & Co advises funds managed by Neo Asset Management and True North Managers on two significant transactions involving Steel Exchange India.
The first transaction involved the subscription of up to INR1 billion (USD12 million) in unrated, unlisted, secured, redeemable, non-convertible debentures issued by Steel Exchange India.
Khaitan also facilitated the transfer of existing listed non-convertible debentures, previously issued by Steel Exchange India, held by funds managed by Edelweiss Alternative Asset Advisors.
This INR2.75 billion transfer was made to funds managed by Neo Asset Management and True North.
Partners Kumar Saurabh Singh, Rahul Chakraborti led the team. Principal associates Jessica Gandhi, Savni Tewari and Manas Pandey, as well as associates Sarika Jhanwar, Saumya Agarwal, Akash Mukherjee and Kartikey Gaur assisted the team.
Partner Sudheer Madamaiah, senior associate Hareesha KS and associate Shambhavi Kashyap provided advice on title diligence and real estate matters.
Steel Exchange India manufactures and trades in steel products, as well as generates and sells power.
