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Deal: Strategic investment in BRFL Textiles by Gokaldas Exports

04 Jul 2024

trilegal-advised-BTPL-in-relation-to-strategic-investment-from-gel

Trilegal advised BRFL Textiles Private Limited (‘BTPL‘) and certain existing shareholders of BTPL viz. JM Financial group (comprising of JM Financial Products Limited, JM Financial Asset Reconstruction Company Limited and JM Financial India Trust II – JM Financial India Fund II) and Think Investments in relation to a strategic investment from Gokaldas Exports Limited (‘GEL‘) in BTPL with a larger view to consolidate BTPL with GEL in the future through an agreed consolidation mechanism.

The transaction comprises a preliminary issuance of 5 lakh optionally convertible debentures (‘OCDs’) to GEL by BTPL for a subscription price of INR 50 crore, followed by an additional investment by GEL of INR 300 crores to be made in subsequent tranches. This strategic investment has been made by GEL with a view to acquire 100% shareholding of BTPL, by way of an agreed consolidation mechanism.

BTPL is a fabric processing company that houses the largest single-roof fabric processing unit in India at Tarapur, Maharashtra, with 400,000 meters per day capacity.

The Trilegal Team was led by our Corporate Partner, Nikhil Sachdeva, and comprised attorneys Mayank Malhotra, Counsel; Devyani Chugh, Senior Associate; Tvisha Dikshit, Associate.

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About Trilegal

Trilegal is one of India’s leading law firms, with expertise across the full spectrum of corporate legal services. Trilegal has offices in four key cities of India.

Trilegal has been recognised as the India Deal Firm of the Year by Asian Legal Business (ALB) India Law Awards 2023; one of the ‘Best Overall Law Firms’ at the India Business Law Journal Indian Law Firm Awards 2022; ‘Firm of the year’ for Client Service Excellence by Asia Law Awards 2021; “M&A Law firm of the Year” by VCCircle Awards 2020; one of the most innovative law firms in Asia in the inaugural edition of ALB Trailblazers 2020 and ‘highly commended’ in the FT RSG Innovative Lawyers Awards 2020.

For more information, please contact:

Sahil Wason

Mob: +91-8928008122 | BD@trilegal.com

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