AK Law Chambers advised for baby products seller R for Rabbit and its promoters when it recently raised INR400 million (USD5 million) from Xponentia Capital Partners, which was advised by IC Universal Legal.
The deal closed on 8 October. AK Law Chambers’ team comprised partner Goda Raghavan and associate Vaishnavi Murali. According to Raghavan, the deal was challenging as it needed to be closed “in about 45 days so that the company would have the adequate funding in time for Diwali”.
IC Universal Legal’s team comprised partner Souvik Roy, principal associate Kanishka Bajpai, senior associate Niharika Rao and associate Abhinav Gupta.
“Since it was the first institutional round for the company, finding the right balance between promoters and investors’ interests and setting correct precedent for future rounds from both promoters and investors’ standpoints was critical,” said Roy.