Shardul Amarchand Mangaldas & Co. advises Rossari Biotech Limited to acquire 100% of the shareholding of Unitop Chemicals Private Limited in multiple tranches

June 4, 2021

Shardul Amarchand Mangaldas & Co. advised Rossari Biotech Limited to acquire 100% of the shareholding of Unitop Chemicals Private Limited (“Unitop”) in multiple tranches, from the existing shareholders of Unitop. The deal is valued at approx. INR 421,00,00,000. The date of closing for first tranche of 65% of the equity share capital is expected to be completed by the second quarter of the Financial Year 2021-2022 subject to fulfillment of customary closing conditions.

Rossari plans to fund the investment through cash on balance sheet and does not intend to raise any debt for this acquisition. In April 2021, Rossari concluded a preferential issue of equity aggregating to Rs. 300 crores to augment the strength of its balance sheet.

The transaction team was led by Abhishek Guha, Partner; Jagriti Mohata, Counsel; Shashank Prabhakar, Principal Associate; Ekta Chandan, Senior Associate; Purva Phadke, Associate; and Vyoma Mehta, Associate.

KPMG, ERM and Axcelus Finserv Private Limited advised Rossari Biotech Limited in tax related matter, environmental related matter, and financial advisory related matter, respectively.

Khaitan & Co. and Wodehouse Capital advised Unitop and existing shareholders on legal and tax matters and financial matters, respectively.