Convergent Finance LLP’s Acquisition of a Controlling Stake in Jagsonpal Pharmaceuticals Limited

Khaitan & Co. advised Jagsonpal Pharmaceuticals Limited and its promoters on the deal.

Jagsonpal Pharmaceuticals Limited and its promoters executed the sale of 43.73% promoter shareholding to the funds managed by Infinity Investment Management and advised by Convergent Finance. The transaction required the funds (i.e. Infinity Holdings, Infinity Holdings Sidecar I and Infinity Consumer Holdings) to make an open offer in terms of the SEBI Takeover Code.

Jagsonpal Pharmaceuticals develops and manufactures bulk drugs and pharmaceutical formulations.

The Khaitan & Co. team consisted of Partner Aditya Patni (Picture), Govinda Toshniwal (Principal Associate), Suraj Prasad Meher (Senior Associate) and Abhinav Chandra (Senior Associate). Diligence aspects: Aditya Patni (Partner), Govinda Toshniwal (Principal Associate), Abhinav Chandra (Senior Associate), Prafful N (Associate), Palak Choudhary (Associate), Sudhir Bassi (Executive Director) and Abhishek Dadoo (Partner). Intellectual property aspects: Shailendra Bhandare (Partner), Sourav Dan (Principal Associate) and Vaishali Adhikari (IP Associate). Employment law aspects: Abhinav Rastogi (Counsel) and Deeksha Malik (Senior Associate). Litigation aspects: Jeevan Ballav Panda (Partner), Shalini Sati Prasad (Principal Associate) and Meher Tandon (Senior Associate). Real Estate aspects: Avnish Sharma (Partner), Kshitij Bishnoi (Partner) and Siddharth Godha (Senior Associate).

Involved fees earner: Jeevan Ballav Panda – Khaitan & Co.; Sudhir Bassi – Khaitan & Co.; Shailendra Bhandare – Khaitan & Co.; Kshitij Bishnoi – Khaitan & Co.; Abhinav Chandra – Khaitan & Co.; Palak Choudhary – Khaitan & Co.; Abhishek Dadoo – Khaitan & Co.; Sourav Dan – Khaitan & Co.; Siddharth Godha – Khaitan & Co.; Deeksha Malik – Khaitan & Co.; Prafful N – Khaitan & Co.; Aditya Patni – Khaitan & Co.; Suraj Prasad Meher – Khaitan & Co.; Abhinav Rastogi – Khaitan & Co.; Shalini Sati Prasad – Khaitan & Co.; Avnish Sharma – Khaitan & Co.; Meher Tandon – Khaitan & Co.; Govinda Toshniwal – Khaitan & Co.;

Law Firms: Khaitan & Co.;

Clients: Jagsonpal Pharmaceuticals Limited;