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.

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.

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

• Delhi Bar Association

Education

• B.A., LL.B. (Hons), National Law School of India University, Bangalore (1993-98)
• B.C.L., University of Oxford (2000-2001)