Sarangan Rajesh Kumar

Sarangan’s experience* includes advising on:

Private M&A Transactions:

• KKR on its primary and secondary investment into PHINMA Education, one of the largest private higher education groups in Southeast Asia with colleges and universities in the Philippines and Indonesia.
• NetEase Games on the US$110 million Series D fundraising round of Build a Rocket Boy, a leading independent gaming and entertainment company.
• Gaw Capital Partners, a leading real estate focused private equity firm, on its joint venture with KKR to acquire the Hyatt Regency Tokyo from Odakyu Electric Railway Company. The investment represents a rare opportunity to acquire an iconic full-service hotel in one of the busiest business and retail districts in the world.
• ChrysCapital, a leading investment firm in India, on its acquisition of Xoriant Corporation, a Silicon Valley-headquartered digital product engineering, software development, and technology services firm.
• 65 Equity Partners, an independently managed investment firm wholly-owned by Temasek Holdings, on its S$150 million investment in NEON Group.
• Sembcorp Industries on the sale of Sembcorp Energy India, one of the largest power producers in India for US$1.5 billion.
• Flipkart, a leading Indian e-commerce platform, on:
  • its acquisition of Yaantra, an electronics re-commerce platform engaged in the sale of refurbished consumer electronics; and
  • its acquisition of ANS Commerce, a full stack e-commerce enabler that helps businesses sell online.

• Goldman Sachs in its investment in Rebel Foods, an operator of cloud kitchens.

• Bertelsmann India Investments on:
  • its investment in LetsTransport, a last-mile logistics provider; and
  • its investment in Lendingkart, a leading Indian fintech platform.
• Aavishkaar Group, India’s largest homegrown impact investor, on its private placement of equity shares to FMO, the Dutch entrepreneurial development bank.

Public M&A Transactions:

• Everstone Capital in its joint venture with Brookfield Business Partners through an investment of US$202 million by Brookfield in IndoStar Capital Finance, a non-banking finance company.

• IndusInd Bank in a private placement of equity shares for US$453 million to the Tata Investment Corporation, Route One Investment Company, AIA, ICICI Life Insurance Company and Hinduja Capital.

• IRB Infrastructure Developers, an operator of toll roads, in an equity fund raise of US$713 million through preferential allotments to Cintra Global S.E and GIC, Singapore’s sovereign wealth fund.

Public Offerings:

• The underwriters on the US$645 million initial public offering and US$350 million associated, pre-IPO sale of equity shares of Afcons Infrastructure Limited. This marks the largest IPO by an Indian infrastructure company, the largest IPO by an Indian construction company in the past two decades, and among the largest IPOs in India for 2024 to date.
• Brainbees Solutions Limited (FirstCry) on its US$500 million initial public offering of equity shares.
• The underwriters on the US$220 million initial public offering of Indegene Limited.
• The underwriters on the US$145 million initial public offering of India Shelter Finance Corporation Limited.
• The underwriters on the US$165 million initial public offering of SAMHI Hotels Limited.
• Brookfield India Real Estate Trust on its US$280 million qualified institutions placement of units.
• Lead managers on the US$215 million qualified institutions placement of Aditya Birla Capital Limited. Named “Deal of the Year” 2023 by India Business Law Journal.

• Lead managers on the US$690 million initial public offering of the Embassy Office Parks REIT.

• Lead managers on the initial public offering of Barbeque Nation, a casual dining restaurant chain.

*Includes transactions completed prior to joining Sidley.