Allen & Gledhill has advised DBS Bank, Malayan Banking Singapore Branch, Oversea-Chinese Banking Corporation, RHB Bank Singapore Branch and United Overseas Bank on the S$1.9 billion (US$1.5b) Islamic term financing facility to South Beach Consortium, the owner of a mixed development in Singapore known as South Beach, comprising of hotel, office and retail components. Partners Aloysius Ng, Lim Wei Ting and Tan Zhi Feng led the firm’s team in the transaction.
AZB & Partners has advised Kotak Mahindra Capital on its Rs3.7 billion (US$39m) sale of 8.9 percent stake in Infina Finance to KF Trust. Partners Ashwath Rau and Kashish Bhatia led the firm’s team in the transaction, which was completed on March 24, 2026.
AZB & Partners has also advised Demi-fine Fashion on its Rs3.7 billion (US$39m) sale of more than five percent stake to Xponentia Capital, Vertex Growth Fund and Vertex Ventures. Partner Aarthi Sivanandh led the firm’s team in the transaction, which was completed on January 27, 2026.
Moreover, AZB & Partners is advising Max Healthcare Institute on its Rs3 billion (US$32m) acquisition of significant majority stake in Kalinga Hospital. Partners Niladri Maulik and Malini Raju are leading the firm’s team in the transaction, which was signed on April 8, 2026 and is yet to be completed.
Davis Polk has advised Adagene on its US$70 million SEC-registered direct offering of American depositary shares. Adagene’s ADSs are listed on the Nasdaq. Adagene is a platform-driven, clinical-stage biotechnology company committed to transforming the discovery and development of novel antibody-based cancer immunotherapies. Partner Xuelin (Steve) Wang, supported by partner Patrick Sigmon, led the firm’s multi-jurisdictional team in the transaction.
JSA Advocates & Solicitors has advised TIL on its rights issue of equity shares, as well as the acquisition of a majority stake in Tulip Compression. A niche heavy-equipment and defence engineering company, TIL is one of the few manufacturers in India with indigenous mobile crane manufacturing capabilities. With a legacy dating back to 1944, the company has established a strong presence in the engineering and infrastructure sectors. Tulip Compression packages, assembles, commissions and conducts lifecycle maintenance of gas compression equipment for compressed natural gas and liquified natural gas applications. Partner Vikram Raghani, supported by partners Arka Mookerjee, Pracheta Bhattacharya and Sourav Modi, led the firm’s team in the transaction.
JSA Advocates & Solicitors has also advised ICICI Ventures on its investment in Agrow Allied. The transaction comprised both a primary capital infusion and a secondary sale by existing shareholders to India Advantage Fund S5 I, a fund managed by ICICI Venture Funds Management. Agrow Allied manufactures and sells crop protection chemicals, such as herbicides, insecticides and fungicides. The company operates a manufacturing facility in Kotputli, Rajasthan, and exports products to various countries. Partner Vikram Raghani, supported by partners Yashvi Singh and Vwastav Ghosh, led the firm’s team in the transaction.
Moreover, JSA Advocates & Solicitors has advised Allianz Group on the binding agreement entered between Allianz SE’s wholly-owned subsidiary Allianz Europe and Jio Financial Services to form a 50:50 primary insurance joint venture for undertaking general insurance, including health insurance. The JV will launch operations upon receipt of necessary statutory and regulatory approvals. Partners Venkatesh Raman Prasad and Ronak Ajmera, supported by partners Shivani Chugh, Ankita Jain, Kumarmanglam Vijay (direct tax head), Manish Mishra (indirect tax head), Shareen Gupta, Vaibhav Choukse, Ela Bali, Sidharth Sethi and Tony Verghese, led the firm’s team in the transaction.
Shardul Amarchand Mangaldas & Co has advised NHPEA Summer Holding (Morgan Stanley) on its exit from Southern Health Foods, pursuant to the acquisition of 100 percent shareholding Southern Health Foods by Reliance Consumer Products (RCP), the FMCG arm of Reliance Industries. Southern Health Foods is an established player in the healthy foods category, operating under its flagship brand ‘Manna’, with over two decades of brand presence. The transaction marks an exit for all existing shareholders of Southern Health Foods, including Morgan Stanley. The acquisition represents a strategic move by RCP to strengthen its presence in the rapidly growing “better-for-you” foods segment, including categories such as health mixes, breakfast cereals, millets, multigrain products, oats and other healthy foods and staples. Partner Nivedita Tiwari, supported by partner Rajat Bose, led the firm’s team in the transaction. Khaitan & Co acted for Reliance Consumer Products.
Simpson Thacher has represented Blackstone on its sale of Lumina CloudInfra SG to AirTrunk. Lumina is a developer of data centers in India. The purchaser, AirTrunk, is a leading hyperscale data center platform in the Asia Pacific and the Middle East. The firm also represented Blackstone on its acquisition of AirTrunk in 2024 from Macquarie Asset Management and the Public Sector Pension Investment Board. Partners Jonathan Hwang (Hong Kong-real estate), Angus Lennox (London-real estate), Brian Stadler (New York-M&A), Matthew Rogers (New York-M&A), Peter Vassilev (New York-funds) and Andrew Blau (New York-executive compensation and employee benefits) led the firm’s team in the transaction.
Skadden has advised Sompo Holdings on its US$1.3 billion aggregate principal amount of 5.411 percent senior callable fixed-to-fixed reset rate notes due 2037. The notes were listed in Singapore. Tokyo corporate partners Kenji Taneda and Ken Kiyota led the firm’s team in the transaction.
S&R Associates is representing international airport operator Aéroports de Paris (Groupe ADP) on the sale of 3.4 percent of the equity share capital of GMR Airports to the GMR Group for €256 million (US$299.5m), which was completed on April 23, 2026. The transactions also include options to sell and purchase an additional 3.9 percent of the equity share capital of GMR Airports, and an early purchase by the GMR Group of foreign currency convertible bonds issued by GMR Airports. Partners Rajat Sethi and Meher Mehta, supported by partners Sumit Bansal and Jitesh Shahani, are leading the firm’s team in the transaction, which has an estimated aggregate consideration of approximately €924 million (US$1.1b).
Trilegal has advised Pioneer Fil-Med on the proposed IPO aggregating up to Rs5 billion (US$53m), comprising a fresh issue and offer for sale of equity shares by selling shareholders. Pioneer Fil-Med manufactures and supplies equipment and allied components to Indian Railway, metro rail corporations and private players, with the majority of its revenue derived from Indian Railway. The syndicate of book-running lead managers comprised Nuvama Wealth Management and Equirus Capital. The IPO proceeds will be used for part-financing the cost of establishing gearbox and wind generator components manufacturing facilities, and for general corporate purposes. Partner Richa Choudhary, supported by partner Maitreya Rajurkar, led the firm’s team in the transaction.
Trilegal has also advised JM Financial India Growth Fund III, along with its family offices, on their approximately Rs1.5 billion (US$16m) investment involving the acquisition of a minority stake in NG Electro Products, a leading Indian OEM/ODM manufacturer in the consumer goods, personal care and over-the-counter and nutraceutical segments. The transaction is structured as a combination of a primary infusion into NG Electro, and a secondary acquisition of shares from the existing promoter group. This investment reflects JM Financial’s continued focus on high-growth opportunities in the manufacturing sector. The capital infusion is expected to further strengthen NG Electro’s manufacturing capabilities, drive operational scale, and support its strategic expansion into new markets. Partners Amit Khansaheb and Nikhil Sachdeva led the firm’s team in the transaction.
