J. Sagar Associates advised sellers of a substantial stake representing 39.2% in the equity share capital of Nirlon Limited (“Company”) including the promoters, in the sale of their shares to Reco Berry Private Limited, an affiliate of GIC, Singapore’s sovereign wealth fund.

The transaction entails an open offer to acquire shares of public shareholders under the Takeover Regulations, and GIC has made an open offer to acquire 28.4% from the public shareholders at a price of ` 222. The aggregate deal value is approximately ` 1400 Crores.

Nirlon Limited is listed on the Bombay Stock Exchange; and owns the Nirlon Knowledge Park which is a professionally planned, large-scale, high quality information technology office park located in Mumbai. The JSA Team comprised Partners Somasekhar Sundaresan, Vikram Raghani & Gautam Gandotra and Associate Suren Sundaram.