Manager to the Open Offer for Acquisition of stake by Anupam Rasayan India Limited in Tanfac Industries Limited

Deal Highlights:

Anupam Rasayan India Limited (ARIL) acquired 24.96% of the equity share capital of Tanfac Industries Limited (TIL) through SPA from Birla Group Holdings Private Limited (BGHPL), Pilani Investment and Industries Corporation Limited (PIICL) and Mr. Askaran Agarwala (jointly, members of Promoter & Promoter Group).
ARIL acquired joint control over TIL via entering into amendment to the JV agreement with Tamil Nadu Industrial Development Corporation (TIDCO) and became the promoter of TIL along with TIDCO.
Acquisition of stake in TIL by ARIL is a strategic decision to expand the product series under the fluorination chemistry of ARIL. TIL brings synergies in the form of backward integration.

Our Contribution:

We managed the entire open offer process, guided the Anupam team on key aspects of the deal and ensured timely approval from SEBI, thereby ensuring timely completion

Exclusive Process Advisor to Resolution Professional of Rohit Ferro Tech Ltd., (‘RFTL’) under IBC

Deal Highlights:

Acquisition of controlling stake (90%) in RFTL under IBC process by Tata Steel Mining Ltd. (‘TSML’), a wholly owned subsidiary of Tata Steel Ltd.
TSML has funded ₹ 6,171 mn towards – settlement of admitted claims of ~₹42,000 mn from financial & operational creditors & CIRP cost
Additional ₹ 1,640 mn would be infused by TSML towards capex & operations
Financial creditors would also be issued 10% equity towards part conversion of their debt
Resolution Plan was approved with 100% voting share of Committee of Creditors (‘CoC’)
5 bidders had submitted their Resolution Plan for RFTL

Our Contribution:

Identified potential investors & generated strong bidder participation despite COVID induced challenges
Assisted RP w.r.t finalization of Evaluation Matrix & RFRP, analyzing Resolution Plans
Assisted RP in carrying out evaluation/assessing the commercial feasibility & viability of Resolution Plans
Facilitated negotiation strategy with RP / COC for maximization of bid value & transaction structure

Exclusive transaction advisor to Indo Count Industries Ltd for acquisition of Home Textiles Business of GHCL Ltd

Deal Highlights:

Acquisition of Home Textiles business of GHCL Ltd.(GHCL), having annual capacity of 45 mn mtrs of bed linen production at Bhilad, Gujarat, 19 brands and 52 trademarks, by Indo Count Industries Ltd (ICIL) on a slump sale basis
Deal also includes acquisition of specified assets (inventory and IPs) of USA subsidiary of GHCL
Overall purchase consideration of Rs. 5,928 mn, subject to closing date adjustments
Post acquisition, ICIL to become the world’s largest Home Textiles Bedding manufacturer, with an annual capacity of 153 mn mtrs

Our Contribution:

Identified the opportunity and approached the parties as it was a strategic fit and win-win proposition for both
Played a pivotal role across diligences and valuation exercise with external agencies and ensured timely completion despite COVID induced challenges
Led the teams in transaction structuring, negotiating solutions for diligence observations and transaction documentation including Business Transfer Agreement (BTA)
Structured USA leg of transaction – minimizing complexities and compliance issues
End to end handholding on all transaction related matters till closure

Book Running Lead Manager to the IPO of S.J.S. Enterprises Limited

Deal Highlights:

IPO of one of the leading players in the Indian decorative aesthetics industry#
Healthy subscription with more than 2 Lac applications
- 91% of anchor book was allocated to LO Investor

Our Contribution:

Edelweiss provided end-to-end client handholding and guidance on various deal contours and timing

# in terms of revenue in Fiscal 2020 and as at March 31, 2021

Manager to the Buyback by Shriram Pistons & Rings Limited

Exclusive Financial Advisor to Epack Durable for Private Equity Fund Raise from ICICI Venture

Deal Highlights:

The deal involves a private equity investment by ICICI Venture in Epack Durable Private Limited (Epack) for a minority stake
Epack would use the funds raised to expand existing manufacturing facilities and set up new greenfield manufacturing plants
The transaction reaffirms strong investor interest in the ‘Make-in-India’ theme
The deal further strengthens our IB’s Industrials franchise and once again demonstrates our ability to close marquee deals for quality clients, independent of the market environment

About Epack:

Epack is India’s 2nd largest ODM/OEM manufacturer of Air Conditioners and a leading manufacturer of Small Home Appliances including Induction Cooktop, Juicer Mixer Grinder and Water Dispenser

Our Contribution:

As the Exclusive Financial Advisor, we played a critical role in highlighting the investment thesis, marketing, structuring and executing the transaction to meet objectives of all the stakeholders

Exclusive Financial Advisor to SS Supply Chain Solutions Private Limited

Exclusive financial advisor to Kuantam Papers Ltd (KPL)

Deal Highlights:

KPL faced stress situation due to COVID as end user market i.e., offices/schools/etc. remained shut for long resulting in reduced capacity utilization
Ongoing project got delayed as lenders held up last mile disbursements with COVID onset
Comprehensive Debt Resolution involved Interest & Principal repayment moratorium
Full disbursement of pending loans for capex completion
Correction in working capital involved by reduction in margins & NFB to FB inter-changeability

Our Contribution:

Ensured further disbursement for ongoing capex even during the restructuring process
On boarding lenders for Resolution Plan since paper industry not mentioned in 26 sectors identified by RBI
Arranged interim funding at reasonable cost, very rare case in restructuring accounts
Assisted & coordinated for all diligences with the external agencies
Achieved successful closure within tight timelines as prescribed by RBI with inherent challenges for document execution by all lenders and perfection of security as well

Exclusive financial advisor to Bannari Amman Spinning Mills Ltd. (BASML)

Deal Highlights:

COVID – 19 implications posed multiple challenges such as plant shutdowns, labour shortage, supply chain disruption, subdued demand etc., which affected BASML’s liquidity position
Comprehensive Debt Resolution involved:
- Addressal of cashflow mismatch by securing principal moratorium & extension of tenor of loans
- Avoidance of bundled repayment obligations by restructuring repayment schedule within the extended repayment period
- Sponsor’s support for resolution plan helped keep the account classification intact as “Standard”
- Resolution of concern of Security Pooling amongst all lenders in Multiple Banking Arrangement

Our Contribution:

Effectively coordinated with all lenders under Multiple Banking Arrangement for successful closure within prescribed timelines
100% Lenders’ support achieved for invocation and implementation of resolution plan.
Critical handholding and strategic approach for all procedural diligences by external agencies.
Well thought through decisions helped foreseeing the challenges and resolving it in timely manner.

Left Lead Book Running Lead Manager to the QIP of Aarti Industries Limited

Deal Highlights:

Edelweiss successfully closed the 2nd QIP transaction for Aarti Industries,
- June 21 – ₹ 12,000 mn | Mar 19 – ₹ 7,500 mn
- Left Lead to both transactions
The QIP received an overwhelming response from investors, reflecting Aarti’s ability as a leading global Spec-Chem Company

Our Contribution:

Deal was launched in ~4 weeks from kick off
We hand-held the Company in structuring the deal, end to end execution, swift regulatory approvals, thereby ensuring timely launch
Garnered participation from a diverse investor set – Book was oversubscribed with healthy demand from all categories of investors
This is our 7th deal closure in last 11 months for repeat clients; A great testimony of high-quality experience