Khaitan & Co represented Grasim Industries Limited on the deal
Grasim Industries Limited signed a definitive agreement to acquire 100 per cent equity shareholding of Soktas India Private Limited, from its current promoters, for an enterprise value of Rs.$23.9 Million, subject to net debt and working capital adjustments, as of the closing date.
SIPL is currently a wholly owned subsidiary of SÖKTAS Tekstil Sanayi ve Ticaret A.S., world renowned producer and marketer of fabrics, with its main facilities in Soke, Turkey.
Grasim already has a significant presence in India’s premium linen fabric market, through its leading brand ‘Linen Club’. It is India’s top linen fabric manufacturer. Its Linen Club has given the evolving Indian fashion industry an edge which will be further bolstered by the ‘SÖKTAS’, ‘Giza House’ and ‘Excellence by SÖKTAS’ brands.
The completion of the transaction is subject to requisite approvals being obtained.
Khaitan & Co represented Grasim Industries Limited with a team including Vineet Shingal (Picture), Shailendra Bhandare, Niharika Mepani, Aman Dwivedi, Sourav Dan, Rhea Jha, Mahima Narsaria and Nayantara Kutty (M&A), Supratim Chakraborty, Sneha Oak Joshi, Prithwijit Gangopadhyay, Shourya Sengupta, Sumantra Bose, Aritri Roy Choudhary and Sneh Lata.
Law Firms: Khaitan & Co.;
Clients: Grasim Industries Limited ;