Gaurav Dayal

National Law School of India University, Bengaluru
B.A., LL.B. (Hons.)

Leading Lawyer - ‘Rising Star Partner’ with IFLR1000 for 2023-2024.
Recommended and key lawyer in Legal500 Asia Pacific 2023 and 2024.
Ritewater fund raise was one of the IBLJ deals of the year in 2023

REPRESENTATIVE EXPERIENCE

Some of Gaurav’s key representations have been set out below*(on a confidential basis):

• Blackstone, CPPIB and GIC in relation to their acquisition of the global financial and risk business of Thomson Reuters for US$ 17 billion.

• Blackstone PE in relation to:

  • acquisition of the global HR outsourcing business of Aon PLC for
    US$ 4.8 billion; and

  • bulk deal / open market sale of its partial stake in SH Kelkar.

• Regal Rexnord on the divestiture of their industrial electrical motors business to WEG for ~ US$400 million.

• I Squared Capital on the sale of its 100% stake in Amplus Energy to Petroliam Nasional Berhad (Petronas) for US$ 390 million.

• Punjab National Bankin relation to its bancassurance joint venture with MetLife.

• DLF Group with respect to the hive-o of its wind-power undertakings in Karnataka, Tamil Nadu, Gujarat and Rajasthan.

• Indiavidual Learning Pvt Ltd. (Embibe) and its founder on strategic investment by Reliance Industries to form India’s largest AI based education platform (deal value: US$ 180 million).

• IFC, Rabo PE and IFFCO in relation to the sale of their combined stake (~70%) in NCMSL (India’s largest private-sector agri logistics player) to Fairfax (deal value: US$ 126 million).

• Temasek in relation to its investment of US$ 100 million in Devyani International Limited (engaged in QSR business and operator of KFC Pizza Hut and Costa Co ee chains in India).

• Mrs. Bectors Food Specialities (engaged in the biscuits business of Cremica group) in relation to investment by CX Partners and Gateway Partners and exit of Motilal Oswal PE (deal value: US$ 100 million).

• International Tractors Limited (Sonalika Group) with respect to a secondary investment by Blackstone PE (deal value: US$ 100 million).

• Premion a CTV/OTT advertising platform of TEGNA, in relation to its acquisition of Octillion Media, a demand-side platform (DSP) focused on Local CTV/OTT advertising

• Lifewell Diagnostics, a healthcare delivery platform with full-stack diagnostics in relation to:

  • private equity investment of US$ 80 million by Orbimed PE; and

  • its strategic acquisition of targets in the diagnostics space for its platform.

• LifeCell International (India’s largest stem cell bank) in relation to private equity investments of US$ 45 million by Orbimed PE.

• Alphavector (Ninety One Bikes) in their series A fund raise of US$ 30 million from A91 Partners and other investors.

• Rite Water Solutions, a potable water and water quality improvement solutions provider, in relation to a private equity investment by Incofin of EUR 7.5 million.

• Belgacom International Carrier Services,a global communications provider, in relation to its acquisition of Mobtexting, a leading CPAAS player in India.

• Manufacturing Technology Inc., a global leader in friction and resistance welding, in its acquisition of Friction Welding Technologies Private Ltd. in India.

• India Agri Business Fund (a Rabobank sponsored fund) in relation to its various investments in India, including in:

  • Nature Bio (subsidiary of LT Foods engaged in organic food business)

  • its exit from Sri Biotech Laboratories, multidisciplinary agri biotechnology company

• Welsh Carson in relation to its strategic growth investment in Simeio Solutions, an identity and access management services provider.

• IDFC Alternatives (now Investcorp) in relation to its investments in:

  • InCred Finance, a technology-led financial services company

  • Citykart Retail, a value apparel retail chain

• One97 Communications (PayTM) in relation to:

  • its series C fund raise; and

  • its strategic investment in Creditmate an AI driven loan collection tech platform.

• Den Networks, one of India’s largest multi-system operators, a listed company, and its promoters, in relation to a follow-on investment by Goldman Sachs.

* Certain of these matters were undertaken prior to joining LKS

RECENT PUBLICATIONS

• ‘M&A round-up for 2022’, January 4, 2023, Lexology: https://www.lexology.com/commentary/corporate-financema/india/lakshmikumaran-sridharan/ma-round-up-for-2022

• ‘Technology industry M&A: legal reforms’, October 19, 2022, Lexology: https://www.lexology.com/commentary/corporate-financema/india/lakshmikumaran-sridharan/technology-industry-ma-legal-reforms

• ‘Easing it for AIFs, VCs’, September 22, 2022, The Hindu Business Line: https://www.thehindubusinessline.com/opinion/easing-it-for-aifs-vcs/article65919395.ece

• ‘Taking ESG reporting to the next level’, May 24, 2022, The Hindu Business Line: https://www.thehindubusinessline.com/opinion/taking-esg-reporting-to-the-next-level/article65457659.ece

• ‘Realigning insurance regulations: increase in FDI limits in insurance companies’, October 13, 2021, Lexology: https://www.lexology.com/commentary/corporate-financema/india/lakshmikumaran-sridharan/realigning-insurance-regulations-increase-in-fdi-limits-in-insurance-companies

• ‘Increase in FDI limit: allowing foreign ownership and control in Indian insurance companies’, August 11, 2021, Lexology: https://www.lexology.com/commentary/corporate-financema/india/lakshmikumaran-sridharan/increase-in-fdi-limit-allowing-foreign-ownership-and-control-in-indian-insurance-companies

• ‘Emergence and growth of fintech start-ups in India’, June 15, 2021, IFLR: https://www.iflr.com/article/2a646h8nupzg381v8xs00/emergence-and-growth-of-fintech-start-ups-in-india

• ‘Thinking outside the (locked) box: post-closing adjustment mechanisms’, November 4, 2020, Lexology: https://www.lexology.com/commentary/corporate-financema/india/lakshmikumaran-sridharan/thinking-outside-the-locked-box-post-closing-adjustment-mechanisms

• ‘Indian M&A in a changed world’, September 28, 2020, IFLR: https://www.iflr.com/article/2a645eymbcnhnuvi8z475/indian-m-a-in-a-changed-world

• ‘Restrictions on FDI from bordering countries’, September 9, 2020, Lexology: https://www.lexology.com/commentary/corporate-financema/india/lakshmikumaran-sridharan/restrictions-on-fdi-from-bordering-countries