Re-thinking Indian Private Equity Exits

THURSDAY, MARCH 05, 2020

SESSION: 9:30 AM - 11:00 AM (IST)

INTRODUCTION

India is in the second wave of private equity (PE) exits. With investment structures getting innovative and regulatory and tax environment becoming more complex, achieving the most lucrative exit that is legally compliant and tax efficient requires innovative thinking. The Indian regulatory framework once very controlled is now become more accommodating in allowing Indian companies to explore offshore markets where capital raising is concerned. We invite you to join us as we explore these creative exit strategies from an Indian and US perspective and discuss case studies where investors have managed to successfully achieve lucrative exits using creative ideas.

Agenda:

  • Current exit scenario - Weak IPO markets in India
  • Direct listing overseas by Indian companies - proposed changes in the Indian regulations
  • Listing overseas for Indian companies through American / Global depository receipts (including the Indian and US tax and regulatory implications):
            - Part listing and full listing
            - Infusing equity capital into financially weak companies for listing overseas
            - Infusing debt capital into financially weak companies with limited equity
              investmentavenues for listing overseas
  • Outbound / reverse mergers and PIPE transactions
  • Exits through ‘direct at the market’ offerings
  • Exit through SPACs - Indian and US tax and regulatory implications
  • Flips / externalizations

We cordially invite you to be a part of our webinar on March 05, 2020 where we will discuss some of the innovative structures for PE exits.

Flow of the session

9:30 AM - 10:45 AM (IST):

Panel Discussion

10:45 AM - 11:00 AM (IST):

Q&A

Speakers

RAJIV KHANNA

Shareholder (Partner) of Buchanan Ingersoll

He is recognized as a New York Super Lawyer, a distinction reserved for top 5% of the attorneys, and also as a Recommended Attorney by Legal 500.

Rajiv has been a partner/shareholder of leading law firms for over 30 years, having advanced from first year associate to full equity partner in 3 years and 6 months, as opposed to the normal 8-12 years, a record that has not been beaten by anyone so far. He is also admitted to practice in India. At the age of 23, he was elected as a Member of the Executive Committee of Delhi High Court Bar Association, the youngest person to ever hold that position.

Rajiv is a renowned authority of cross border transactions involving the U.S. and India. He is the architect of many seminal path-breaking transactions including the first ADR linked equity line transaction for an Indian company, first proposed reverse merger of an Indian privately held corporation with a NASDAQ listed company, the first merger of a U.S. privately held company with a publicly listed Indian company, the first merger of an a NYSE listed Indian company with a NASDAQ listed U.S. company and the first triple dip aircraft financing which allowed full depreciation to be claimed in the U.S., Japan and India for the same aircraft.

NISHCHAL JOSHIPURA

Leader, Private Equity & Mergers & Acquisitions,

Nishith Desai Associates

Nishchal Joshipura co-leads the Corporate practice at Nishith Desai Associates. Nishchal is a lawyer, Chartered Accountant and MBA. He has led several high profile M&A and Private Equity deals and set up multiple offshore and domestic India focussed funds. He specializes in legal and tax structuring of complex cross-border transactions.

He also advises major MNCs on Corporate & Securities laws, International Taxation, Globalization, Structuring of Inbound/ Outbound Investments and Exchange Control Laws. He has been “Highly Recommended” by various legal directories for legal and tax advice on M&A, Private Equity and Investment Funds.

He was nominated as a “Young Achiever” at the Legal Era Awards 2015 based on industry research, reviews, rating and surveys conducted by Legal Era.

SIMONE REIS

Leader, Private Equity & Mergers & Acquisitions,

Nishith Desai Associates

Simone is the Co-Head of Mergers & Acquisitions practice and Corporate Governance practice at the firm. Simone’s practice focuses on mergers and acquisitions, private equity and venture capital investments, domestic and international, and has advised a wide spectrum of clients, across several sectors.

ABHINAV HARLALKA

Member, Private Equity & Mergers & Acquisitions

Nishith Desai Associates

Abhinav Harlalka is a senior member of the Mergers & Acquisitions and Private Equity Practice at Nishith Desai Associates. He advises domestic and global private equity funds in private equity and private debt investments.