Gunjan Shah is a Partner and serves on the Management Committee of the Firm. She specialises in General Corporate, Capital Markets and Banking & Finance.
Her areas of expertise include mergers & acquisition, private equity, corporate restructuring, debt restructuring, debt capital markets and securities and takeover regulation in India.
In 2019, FT Innovative Lawyers 2019, Asia Pacific Awards awarded her transaction, AION and JSW’s acquisition of Monnet Ispat & Energy Limited, on innovation in legal expertise. She is a fellow of the Aspen Global Network– Kamalnayan Bajaj fellowship and has held a number of positions on legal panels and forums and is a judge at the Oxford-Price Media moot court competition held in Oxford, UK.
“Gunjan Shah handles a broad range of corporate commercial issues. She is a popular choice of counsel amongst both domestic and international entities for advice on investment and restructuring work” (Chambers Asia Pacific 2019). “All-rounder Gunjan has played a prominent role in several loan and bond refinancing matters” and “receives high praise for her legal understanding,” according to (Chambers Asia Pacific Guide 2014). Gunjan has been recognised as a ‘Leading individual’ for Corporate and M&A, by the Legal500, 2019, and had been described as described as “responsive, thoughtful and knowledgeable” and “a person who is a mainstay of the banking, finance and capital markets practice”.
Select Experience Statement
Mergers & Acquisitions / Private Equity
- AION and JSW group in the acquisition of Monnet Ispat & Energy Limited pursuant a National Company Law Tribunal approved insolvency resolution process under the Bankruptcy code, for USD 422.2 million (The transaction won the Firm an award on Innovation in Legal Expertise in the FT Innovative Lawyers 2019, Asia Pacific Awards).
- Videocon d2h in the merger of Videocon d2h with Dish TV Limited resulting in the world’s largest pay TV.
- ChrysCapital in the acquisition of a 10% stake in Mankind Pharma Limited for USD 322 million, in one of the largest investments in the pharmaceutical sector in India.
Read More+
- ChrysCapital in the acquisition of 75 per cent of the equity share capital of GeBBS Healthcare Solutions Private Limited for USD 142 million.
- AION in the acquisition of InterGlobe Technologies Private Limited, the global travel business process management arm of the InterGlobe Group, for USD 233.2 million.
- JSW Steel Limited in the strategic investment by JFE Corporation of approximately USD 1.5 billion.
- AION Investments Singapore Private Limited and Apollo Asia Private Credit Master Fund Pte. Limited in connection with its investment of up to approximately USD 1.5 billion in listed principal protected market linked debentures issued by Avantha Holdings Limited, an investment holding company with investments in Crompton Greaves Limited.
Read Less-
Finance
- Acted for the domestic lenders (34 in number) of JSL Limited (formerly Jindal Stainless Limited) in the corporate debt restructuring JSL Limited for an amount of approximately Rs. 88,021 million under the CDR mechanism of the Reserve Bank of India.
- Standard Chartered Bank for a term loan facility for up to USD 330 million for subsidiaries of JSW Steel Limited, guaranteed by JSW Steel Limited.
- Barclays Bank PLC in a syndicated financing transaction of USD 250 million with JSL Limited (formerly Jindal Stainless Limited) and subsequent restructurings of the ECB facilities.
Read More+
- Suncity Projects Private Limited, a real estate company in India in a structured finance / pre IPO private placement transaction of USD 200 million with Deutsche Bank.
- Dragados Servicios Portuarios Y Logisticos S.L in a project finance transaction of approximately USD 160 million for their joint venture with Gammon India Limited in relation to their participation in the development, construction, operation and management of the offshore container terminal in the Port of Mumbai.
- Jubilant Pharma in relation to its high yield bond issuances in 2016 and 2019.
- Jubilant Group in relation to a USD 147.50 million loan by International Finance Corporation to Jubilant Pharma Limited (a wholly owned subsidiary of Jubilant Life Sciences Limited).
Read Less-
Capital Markets
- Unitech Limited on the issue of qualified institutional placement for an approximate amount of Rs. 27,893 million (approximately USD 628 million), with the joint global co-ordinators and joint bookrunners being IDFC-SSKI Limited, UBS Securities India Private Limited, Morgan Stanley India Company Private Limited and Credit Suisse Securities (India) Private Limited.
- Unitech Limited on the issue of qualified institutional placement for an approximate amount of Rs. 16,211 million (approximately USD 365 million), with the joint global co-ordinators and joint bookrunners being IDFC-SSKI Limited, UBS Securities India Private Limited and Morgan Stanley India Company Private Limited.
- Indian legal counsel in several Reg S and Rule 144A offerings of FCCBs and GDRs by Jubilant Organosys Limited, JSL Limited, Ballarpur Industries Ltd. and Gitanjali Gems Limited.
- The bondholders in relation to restructuring of foreign currency convertible bonds issued by Subex Limited and GTL Infrastructure Limited, pursuant to a cashless exchange offer.
A detailed experience statement can be shared on a confidential basis.
Professional Memberships
Education
- B.A. LL.B, (Hons), National Law School of India University, Bangalore (1993-98)
- B.C.L, University of Oxford (2000-2001)