April 18, 2023
Shardul Amarchand Mangaldas & Co. advised Kotak Real Estate Fund X, a fund managed by Kotak Investment Advisors, in connection with its investment in the non- convertible debentures issued by Bharat Hotels Limited (“BHL”) (parent entity of the LaLiT Hospitality Group which owns and operates 13 luxury hotels, spa and resort properties in India). The date of closing was January 31, 2023 and the deal was valued at USD 135 million approximately.
This issuance will help BHL to strengthen its position in the hospitality industry and provide an opportunity for investors to invest in the growing hospitality sector of India.
The transaction team was led by Veena Sivaramakrishnan, Partner; Zubin Mehta, Partner; Yash Kahandole, Senior Associate; Jasraj Narula, Senior Associate; Milind Rai, Associate; and Sirhaan Seth, Associate.
The due diligence team was led by Veena Sivaramakrishnan, Partner; Zubin Mehta, Partner; Lalan Gupta, Partner; Bhoumick Vaidya, Partner; Mohit Bhatia, Counsel; Sanjana Rao, Senior Associate; Yash Kahandole, Senior Associate; Anuj Loya, Associate; Milind Rai, Associate; Aditi Tomar, Associate; and Sirhaan Seth, Associate.
The real estate due diligence team was led by Mrinal Kumar, Partner; Shrutikirti Kumar, Partner; Rachna Bagri, Counsel; Arnav Sahni, Senior Associate; and Asmita Hegde, Associate.
S&R Associates acted as the legal counsel for BHL.
The Bar Council of India does not permit solicitation of work and advertising by legal practitioners and advocates. By accessing the Shardul Amarchand Mangaldas & Co. website (our website), the user acknowledges that:
Click here for important public notice from the Firm.