Khaitan & Co advised Milky Mist Dairy Food Limited and its promoters in relation to a pre-IPO primary investment of INR 482 crores by Jongsong Investments Pte. Ltd., an indirect wholly owned subsidiary of Temasek Holdings. Cyril Amarchand Mangaldas acted as the legal counsel for Temasek on this transaction.
The total fundraise includes a primary capital infusion of around INR 357 crore and a secondary share sale of approximately INR 125 crore.
Along with the fresh capital infusion, promoters Sathishkumar T and Anitha S offloaded 89.44 lakh equity shares at INR 139.76 each, raising about INR 125 crore through the secondary sale.
Khaitan’s core team consisted of partner Vivek Sriram, principal associate Anantha S Desikan and associate Aanchal Kapoor with assistance from partner Sneh Shah and associate Pal Jain on tax aspects and partner Anisha Chand on competition law aspects.
CAM’s transaction team was led by senior partner Reeba Chacko, partner Saurav Samaddar, with assistance from principal associate Mahima Goel, senior associate Ohmkar Vishal, and associate Utkrasht Gupta.
Partner Janhavi Manohar assisted on the capital markets aspects of the transaction. Partner (Head – Competition) Avaantika Kakkar with support from senior consultant Anshul Jain and senior associate Mohini Parghi assisted on the competition law aspects of the transaction.
