Panatone Finvest’s Acquisition of Controlling Stake in Tejas Network

Khaitan & Co advised Panatone Finvest Limited in the transaction.

Panatone Finvest Limited executed the acquisition of equity shares and warrants of Tejas Networks Limited, a listed company, aggregating up to 69% of its expanded voting share capital, for a consideration of INR 2,922 crore (approximately $400 million). This includes the shares for which a mandatory tender offer has been announced by the client (and its group companies) in accordance with the SEBI Takeover Regulations.

Panatone Finvest Limited provides financial intermediation services.

The Khaitan & Co. team consisted of Partner Bharat Anand (Picture), Pashupati Nath (Partner) and Tanima Tandon (Senior Associate). The public M&A team involved Sudhir Bassi (Executive Director), Arindam Ghosh (Partner), Shashank Patil (Principal Associate) and Gaurang Mansinghka (Associate). Due diligence: Aditya Patni (Partner), Suchita Vyas (Associate) and Prachi Tripathy (Associate). Corporate: Abhinav Chandra (Senior Associate). Regulatory aspects: Moin Ladha (Partner) and Harsh Walia (Partner). Competition Law aspects: Pranjal Prateek (Partner). Tax aspects: Indruj Singh Rai (Partner) and Sarthak Parnami (Associate). Financing: Manisha Shroff (Partner) and Jessica Gandhi (Principal Associate). Ganesh Prasad (Partner) and Chirag Krishna (Associate) from the KCO Bangalore office.

Involved fees earner: Bharat Anand – Khaitan & Co.; Sudhir Bassi – Khaitan & Co.; Abhinav Chandan – Khaitan & Co.; Jessica Gandhi – Khaitan & Co.; Arindam Ghosh – Khaitan & Co.; Chirag Krishna – Khaitan & Co.; Moin Ladha – Khaitan & Co.; Gaurang Mansinghka – Khaitan & Co.; Pashupati Nath – Khaitan & Co.; Sarthak Parnami – Khaitan & Co.; Shashank Patil – Khaitan & Co.; Aditya Patni – Khaitan & Co.; Ganesh Prasad – Khaitan & Co.; Pranjal Prateek – Khaitan & Co.; Manisha Shroff – Khaitan & Co.; Indruj Singh Rai – Khaitan & Co.; Tanima Tandon – Khaitan & Co.; Prachi Tripathy – Khaitan & Co.; Suchita Vyas – Khaitan & Co.; Harsh Walia – Khaitan & Co.;

Law Firms: Khaitan & Co.;

Clients: Panatone Finvest Limited ;

Author: Sonia Carcano