AZB & Partners is advising Wipro on its acquisition of Mindsprint from Olam Holdings. Partners Srinath Dasari, Bhuvana Veeraragavan, Aditya Singh Chandel, Bharata Budholia and Adoksh Shastry are leading the firm’s team in the transaction, which was signed on April 8, 2026 and is yet to be completed.
Clifford Chance has advised CITIC Securities (Hong Kong) and ABCI Securities, as the joint sponsors, on the IPO and listing of TenNor Therapeutics (Suzhou) in Hong Kong, under the Exchange’s Chapter 18A Listing Rules for Biotech Companies. Founded in 2013 in Suzhou, TenNor Therapeutics is a biotechnology company which focuses on developing differentiated treatments for bacterial infections and metabolic diseases to combat antimicrobial resistance, a global health threat. Partners Fang Liu, Virginia Lee and Claire Cao (Beijing) led the firm’s team in the transaction.
JSA Advocates & Solicitors has represented Robert Bosch Investment Nederland and Robert Bosch (US) on the sale of their stake in Bosch Chassis Systems India for an aggregate consideration not exceeding Rs90.7 billion (US$948m). Partner Anand Lakra, supported by partners Kumarmanglam Vijay (direct tax head) and Surajkumar Shetty, led the firm’s team in the transaction.
JSA Advocates & Solicitors has also successfully represented UltraTech Cement on securing a significant victory before the Rajasthan High Court on a challenge to the State’s actions of denying exemption from payment of Electricity Duty. The High Court held that UltraTech Cement, which established captive solar power plants pursuant to Rajasthan Solar Energy Policy 2019, is exempted from payment of electricity duty for seven years from the commissioning of the RE Plant. The High Court further clarified that the amendment made to the Solar Policy, withdrawing the exemption from payment of electricity duty, cannot divest UltraTech of its accrued rights. The High Court found that the Solar Policy, though executive in nature, constituted sovereign representation designed to induce substantial investment in solar generation. Since UltraCement incurred substantial capex under this representation to set up plants, all the essential ingredients of promissory estoppel were met. The Court rejected the State’s argument that no enforceable right could stem from a non-statutory executive policy, and that exemptions could only be granted via statutory notification under the ED Act. It reasoned that the State cannot justify breaking a promise it consciously made by relying on its own failure to issue a notification. Additionally, the Court dismissed the claim of financial constraints as a valid reason for withdrawal, citing the lack of substantive evidence. Furthermore, the Court connected the promotion of renewable energy with the constitutional right to a clean and healthy environment under Article 21. It emphasised that arbitrarily or unfairly withdrawing such incentives damages investor confidence. Partner Abhishek Munot, supported by partner Kunal Kaul, led the firm’s team in the matter.
Rajah & Tann Singapore has successfully acted for Singapore-listed Hong Leong Asia on its placement of 50 million new ordinary shares for S$145 million (US$113.5m) by the placement agent, CGS International Securities Singapore. Partners Cynthia Goh and Tan Si Qi from the Capital Markets and M&A Practice Group led the firm’s team in the transaction.
Shardul Amarchand Mangaldas & Co has advised ITC Hotels on its acquisition of 100 percent of the issued and paid-up share capital of Zuri Hotels and Resorts, which owns and operates ‘The Zuri Kumarakom, Kerala Resort & Spa’, a luxury resort situated along the banks of Vembanad Lake in Kerala. Partners Rudra Kumar Pandey and Rohan Jain, supported by partners Mrinal Kumar, Shrutikirti Kumar and Kriti Kaushik, led the firm’s team in the transaction.
Skadden has advised Barclays Bank, Citibank Europe, Daiwa Capital Markets Europe and JP Morgan Securities, as the underwriters, on the €2.5 billion (US$2.9b) offering of 3.125 percent government guaranteed bonds due 2031 by the Japan Bank for International Cooperation. The notes were listed in Luxembourg. Tokyo corporate partners Kenji Taneda and Ken Kiyota led the firm’s team in the transaction.
WongPartnership is acting for Keppel on the divestment of i12 Katong, a suburban retail mall in Singapore, to Altallo Holdings for approximately S$372.03 million (US$291.3m). The deal was structured as a share sale involving the sale of shares in the asset holding company, PRE 1 Investments, which holds the property indirectly through Katong Retail Trust. The purchaser will pay the total cash consideration over three tranches, comprising approximately S$30,000.00 (US$23,493.46) as consideration for the sale shares, and S$372 million (US$291m) for repayment of a loan extended to Katong Retail Trust by another Keppel subsidiary. Partners Tan Teck Howe and Sue-Ann Phay are leading the firm’s team in the transaction.
WongPartnership is also acting for charitable institution MILK (Mainly I Love Kids) Fund on a Memorandum of Understanding entered into with another charity, Epworth Community Services, for a collaboration supporting children aged five to 12 years from middle-to-lower-income families with emerging or mild-to-moderate special educational needs who attend mainstream schools. Partners Gavin Neo and Melanie Ho are leading the firm’s team on the matter.
