Niren Patel is a Partner in the Mergers and Acquisitions and Private Equity Practice Group in the Mumbai office. Niren’s expertise lies in advising clients on investment strategies, domestic and cross-border mergers and acquisitions, private equity/ venture capital investments and exits (including majority buy outs and exits), strategic alliances, joint ventures and general corporate matters.
Niren has been involved in several complex and big-ticket M&A transactions across a variety of sectors in India in the recent years.
- The Bombay Incorporated Law Society
- Bar Council of Maharashtra & Goa
Recognitions and Accomplishments
- The IFLR1000 Lawyer Rankings 2019 recognises Niren as “Notable Practitioner” for Private Equity, M&A
- The RSG India Report 2017 featured Niren as “Recommended by clients for Mergers and Acquisitions”
- The Legal 500 report for India: Corporate and M&A has quoted that Niren is a ‘responsive and knowledgeable’ lawyer
Niren Patel has represented and advised the following clients
Birlasoft (India) Limited and its Promoters - National Engineering Industries Limited and Central India Industries Limited
Advised on the overall transaction, including (i) the open offer by promoters of KPIT Technologies Limited (KPIT) and Birlasoft to KPIT’s public shareholders for acquiring up to 26% of KPIT’s share capital; (ii) merger of Birlasoft into KPIT; and (iii) demerger of the Engineering Business from KPIT into KPIT Engineering Limited, to first create a $700-million company, which will then be split into two publicly-traded companies (a $500-million enterprise digital IT services company and a $200-million automotive software engineering company).
Fosun International Limited, Shanghai, Fosun Pharmaceutical (Group) Co., Ltd and various subsidiaries
Advised on the acquisition of 74% stake in Gland Pharma Limited from KKR, Promoters and other shareholders for USD 1.09 billion (being the largest acquisition of an Indian company by a Chinese firm).
Advised on acquisition of the hair & scalp care business under the ‘Kesh King’ and allied brands from Mr Sanjeev Juneja for USD 258.6 million.
Aircel limited (Aircel) and its shareholder Maxis Communications Berhard (MCB)
Advised on the merger (by way of slump sale) of the entire wireless telecommunications business of Reliance Communications Limited and Reliance Telecom into Aircel and Dishnet Wireless Limited (subsidiary of Aircel). This deal would have been the largest ever consolidation in the Indian telecommunications sector and the Merged Co would have been one of India’s largest private sector companies, with an asset base of over INR 65,000 crores (USD 9.7 billion) and net worth of INR 35,000 crores (USD 5.2 billion).
Nippon Life Insurance Company
Advised on acquisition of the initial 26% and thereafter an additional 23% stake in Reliance Life Insurance Company Limited from Reliance Capital Limited for an aggregate investment amount of USD 819 million.
Advised in relation to: acquisition of 51% of Max Bupa Health Insurance Company Limited (Max Bupa) from Max India Limited (Max India); and acquisition of approximately 5.2% of Max Bupa from Bupa Singapore Holdings Pte. Ltd. (Bupa). True North’s acquisition of Max Bupa’s shares is the second private equity control transaction in India’s health insurance sector, but the first control deal in India’s health insurance sector by a sole private equity firm. After the completion of this acquisition, True North will act in the capacity of the Indian promoter of Max Bupa in accordance with the IRDAI (Investment in Private Equity Funds in Indian Insurance Companies) Guidelines 2017.
Avendus Capital Private Limited (Avendus) and its group companies and its three promoters
Advised on the acquisition by Kohlberg Kravis Roberts & Co (KKR) of 72% stake in Avendus in tranches (first tranche being 62.2%) by way of primary acquisition and secondary transfer; and on subscription by KKR of an additional 9% stake and subscription by Gaja Capital of 7% stake in Avendus for USD 51 million approximately (in aggregate).
Nippon Life Insurance Company
Advised on acquisition of stakes in multiple tranches in Reliance Capital Asset Management ultimately resulting in it holding 49% for an aggregate investment of USD 532 million; and
First Rand Bank Limited (FRB)
Advised on the sale of entire micro-finance credit business to Centrum Microcredit Private Limited.
Mergers and Acquisitions, Private Equity, Estate Planning, Trusts and Private Client
Partner, New Delhi
Mergers and Acquisitions, Private Equity, Restructuring & Insolvency
Private Equity, Restructuring & Insolvency, Mergers and Acquisitions