Jay Gandhi
Jay Gandhi is a Partner with Shardul Amarchand Mangaldas & Co based out of Mumbai office. Jay’s practice encompasses Mergers & Acquisition, Private Equity, Joint Ventures and Investment Funds and he has extensive experience across these areas both on cross-border and domestic deals.
For more than a decade and a half, Jay has been advising several large international and domestic private equity funds, banks and financial institutions, multi-national corporations and Indian business houses on various types of complex M&A deals, private equity and venture capital investments and leveraged buy-outs. Jay has led large multi-disciplinary teams with the firm on complex acquisition transactions requiring simultaneous management of transactional issues alongside nuances arising from sectoral challenges and regulatory constraints.
Jay also regularly represents international and domestic fund managers in relation to structuring, formation and regulation of all kinds of alternative investment funds, Real Estate Investment Trusts, Infrastructure Investment Trusts, mutual funds, domestic funds and India focused international funds. He has been involved in strategic joint ventures for setting up several funds and negotiates fund documents on behalf of the GP as well as the LPs. Jay frequently advises on the nuances of a dynamic regulatory regime and evolving trends around pooling vehicles and financial intermediaries in India.
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Jay is a qualified lawyer and a member of Bar Council of Maharashtra & Goa and in addition, is also a qualified chartered accountant. The dual qualification gives him an edge as a corporate lawyer who needs to understand and advise on transactions that are primarily driven by business related factors. He holds a double graduation, a graduation in commerce followed by a graduation in law from the Mumbai University and also holds a Solicitor’s degree from the Bombay Incorporated Law Society. He qualified as a chartered accountant from the Institute of Chartered Accountants of India and was a practising chartered accountant before pursuing a career in law. Prior to joining the Firm, Jay was a partner at the Mumbai office of another large tier 1 law firm.
He has been involved in some of the largest foreign direct investment transactions that India has witnessed, in the real estate, infrastructure and media sectors. Jay has been recognized as a “Notable Practitioner” by IFLR 1000 in 2019-21 in Investment Funds, Private Equity, M&A and by Asialaw 2021 for Investment Funds. Jay has been recommended in the RSG Consulting Report for 2017-18 for corporate law. Clients commented that Jay is able to use his legal knowledge “to quickly understand all the commercial aspects of a deal” and offer “expert advice” with “efficient situation based solutions”, and that he has a “knack for anticipating issues and this helps him prepare us for the various situations that may arise”.
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- Represented the K Raheja Group in the successful sponsorship and listing of the Mindspace Business REIT, a 4,500 crore REIT listing of a completed and lease generating office assets portfolio of more than 23 million sq ft across western and southern India;
- Represented the Brookfield Group in its acquisition of certain hotels and related assets of the HLVL Group which operates the “Leela” brand in India, for an aggregate consideration of Rs. 4100 Crores. This is one of the largest deals in the hospitality sector in India and saw prolonged minority interest litigation before reaching successful closure;
- Represented Union Bank of India in its joint venture with Dai-Ichi Life Holdings, Inc., where Dia-chi took a significant minority stake in a subsidiary of Union Bank Limited which is engaged in the asset management space and became a co-sponsor of the mutual fund. This joint venture vehicle carries on the asset management business and manages the mutual fund of Union Bank of India;
- Represented the Brookfield Group in its sponsorship of an Investment Infrastructure Trust for the acquisition of East West Pipeline (a cross-country trunk pipeline for transportation of natural gas covering approximately 1460 kms) from the Reliance group in an approximately INR 14,000 Crore transaction. Jay led the multi-disciplinary team from Shardul Amarchand Mangaldas including the corporate, infrastructure, capital markets and financing teams involved in the transaction. This was a first of its kind transaction where an Acquirer sponsored and set up an Investment Infrastructure Trust;
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- Represented Kora Capital in its investment of up to USD 125 mn in the financial services business of the Edelweiss Group, a large and diversified financial services group in India;
- Represented Wadhawan Global Capital and DHFL Limited in the sale of their significant majority stake in Aavanse Financial Services Limited to Warburg Pincus through a bidding process led by the sellers and their bankers;
- Represented FW Asset Management on its investment in Wildcraft India Private Limited, a company engaged in the business of manufacturing and marketing of outdoor equipment, apparels, footwear and associated accessories;
- Represented the companies which own the “Saavn” platform in their strategic merger with the Reliance Group, where they merged the digital music service Saavn with JioMusic to create a digital media platform with global reach having total value of over $1 billion;
- Represented the sponsors and managers in the set up of “Taking Off to the Future Airport Fund”, a 1.5 Billion Dollar fund proposed to be set up exclusively for the purposes of investment in the airports and related sectors in India;
- Represented Brookfield Group in several acquisitions in the real estate space including in its acquisition of a large portfolio of commercial assets measuring approximately 4.5 million sq. ft from the Hiranandani Group in Powai, Mumbai and its acquisition of 4 towers with leasable office space measuring approximately 1.25 million sq. ft., located in Bandra Kurla Complex in Mumbai owned by the Essar Group;
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A detailed experience statement can be shared on a confidential basis.
Professional Memberships
- Bar Council of Maharashtra & Goa
Education
- B.Com, LL.B, Mumbai University
- CA, ICAI
- Solicitor, Bombay High Court
