Kunal Arora
Partner, New Delhi
Kunal Arora is a Partner in Corporate and M&A practice of Lakshmikumaran & Sridharan
About Kunal Arora
Kunal assists clients on corporate and commercial matters with special focus on M&A, Private Equity, Joint Ventures and Real Estate transactions. He has advised a wide array of clients including investment funds, strategic investors, Indian companies and promoters on domestic and cross-border transactions as also complex regulatory matters.
Kunal has extensive experience representing clients across different sectors in joint ventures, financial & strategic investments, business acquisitions, exits and assisting on the entire life cycle of transactions including structuring, compliance related aspects and negotiations.
Having worked with various leading Indian law firms, Kunal is a seasoned transactions attorney with experience spanning different sectors including healthcare, IT/ ITES and technology, consumables, financial services, pharmaceuticals, manufacturing, electronics, e-commerce, education, real estate, hospitality, logistics, media and financial services. Kunal also routinely advises clients on regulatory and corporate governance related aspects, establishment and growth strategies, business restructuring and other operational issues in India.
Apart from corporate transactions, Kunal is also a part of the real estate practice in the firm and is responsible for assisting clients on acquisitions including due diligence, structuring, documentation and negotiation while also routinely advising clients on regulatory aspects related to real estate and construction. Kunal has advised developers, government bodies, investors, financial institutions and other clients across sectors in relation to projects and transactions involving real estate.
Kunal has recently advised ETS and Shorelight, two of the world leaders in the education sector in relation to their strategic investment in Leverage Edu, a top study abroad platform in India. Kunal has also advised IndiaMart in relation to its financial and strategic investments across di¬erent start-up companies in India. In the real estate space, Kunal recently assisted Ambience Group on sale of their township project to M3M in one of the largest real estate deals in India.
Past Experience
Prior to L&S, Kunal has worked with the Corporate M&A and Real Estate team at Alpha Partners and Cyril Amarchand Mangaldas.
Education
Symbiosis Law School, Symbiosis International University, Pune
B.B.A. LL.B.
Awards
Kunal has been recognised as a recommended and key lawyer in Legal500 Asia Pacific 2023
OTHER ACTIVITIES
Some of Kunal’s key representations have been set out below:
CORPORATE/M&A
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ETS Global, the creator of the TOEFL tests and GRE general test) in relation to their:
- strategic investment in the Series C funding of Leverage Edu, an overseas- focused higher education counselling platform. This also involved representation on behalf of Shorelight Holdings, a leading international student marketplace in the United States connecting international students, universities to drive student enrollment and performance at scale.
- strategic investment into the ed-tech unicorn upGrad, in a funding round of USD 210 million along with a clutch of marquee investors.
- strategic investment in the Series B funding and bridge round of the ed-tech startup CollegeDekho (deal value: collectively USD 40 million).
- Ambience Group, a large player engaged in the business of real estate development, in relation to the sale of a project situated in Panipat to M3M India for development of a township. This was one of the largest real estate acquisition deals of the year 2022 (deal value: INR 1500 crore).
-
IndiaMart Intermesh, India’s largest online B2B marketplace in relation to their:
- investment in Series B funding round of USD 19.4 million in the fleet management and predictive analytics platform Fleetx Technologies.
- acquisition of a majority stake in Live Keeping, a mobile application that allows users to access their Tally ERP9 data (deal value: USD 5.75 million).
- partial sale of stake in ProcMart, a B2B procurement portal for industrial buyers, as part of a larger investment round.
- The promoter of Intellicar, as part of Intellicar’s acquisition by TVS Motors. Kunal advised the client in relation to the transaction including assistance for negotiation and finalisation of the transaction documents.
- Asian Hospitals, a company engaged in the business of operating hospitals in relation to their Series B fund raising from CDC, UK government’s development finance institution.
REAL ESTATE
- ATLBattery Technology, one of world's leading producer of high-quality rechargeable lithium-ion battery cells and packs, in relation to their acquisition process of a large greenfield industrial property admeasuring 190 acres in north India from the state government, for setting up a ‘mega’ manufacturing facility.
- Thomson Reuters, in relation to acquisition of leasehold rights over large commercial properties in Bengaluru and Mumbai.
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Airports Authority of India (AAI) in relation to:
- a transaction involving grant of leasehold rights to Mihan India Limited, a joint venture company between the State of Maharashtra and the AAI, for redevelopment of Nagpur Airport.
- the allotment of hangars at various airports across India. The role involved preparation of the bid documents including the concession agreement and advising AAI on the entire process and issues related to the project.
- Indian Tourism Development Corporation, in relation to transactions involving sale of their hotels being operated under the brand name ‘Ashok’. The role involved advising the government on the transaction documents including asset purchase agreements, agreement to sell and sale deeds.
- Maruti Suzuki India Limited in relation to acquisition of properties across various cities in India. Kunal’s role involved carrying out the due diligence of the properties, preparation of the transaction documents and assistance in relation to the registration of the sale deed and the mutation process.
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