Pathkind Diagnostics Private Limited | Sale of minority shareholding to India Business Excellence Fund IV
| NO | HEADINGS | DETAILS |
| 1. | Sector | Pharmaceuticals manufacturing sector |
| 2. | Announcement Date | 25-May-2022 |
| 3. | Completion Date | 25-May-2022 |
| 4. | Name of Client | Pathkind Diagnostics Private Limited |
| 5. | Transferor Details | Pathkind Diagnostics Private Limited |India |
| 6. | Investee Details | India Business Excellence Fund-IV | India |
| 7. | Deal Description | Advised Pathkind Diagnostics Private Limited (“Pathkind”, one of the leading companies in India in diagnostic and lab testing services, providing access to superior quality diagnostics services) and its promoters in relation to investment by India Business Excellence Fund IV (a fund managed and advised by MO Alternate Investment Advisors Private Limited) in Pathkind, for a consideration of upto INR 194.4 crore. The deal structure involved the investment been structured into two tranches and a subscription and shareholders agreement between the parties. |
| 8. | Total Consideration | INR 194.4 crore (USD 25 million) |
| 9. | Team Members | The core team consisted of Bharat Anand (Partner), Pashupati Nath (Partner), Mukul Aggarwal (Principal Associate) and Yashodhara Chauhan (Associate) with assistance from the following:
Diligence, preparation of disclosure letter, assistance in employment and tax related issues and closing: Abhinav Chandan (Partner), Indruj Rai (Partner), Abhinav Rastogi (Counsel), Kevin Peter (Principal Associate), Abhiroop De (Senior Associate), Swati Garg (Senior Associate), Ananya Bhat (Senior Associate), Archika Dudhwewala (Senior Associate), Sarthak Parnami (Senior Associate), Divya Kumar (Associate), Kartavya Gogna (Para-legals / Trainees) |
| 10. | Role of Firm | Khaitan & Co advised on the transaction structuring as well as drafting, negotiation, and finalisation of the transaction documents, including the share purchase and subscription agreement, shareholders agreement. |