Lawyers

Hong Kong
T: +852 2978 8062
F: +852 2140 0362
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Sidharth Bhasin
Counsel

Education
Cornell Law School, LL.M.
Cardiff Law School, LL.B.
University of Delhi, India, Bachelor of Commerce (Hons)

Practice
Sidharth Bhasin, a counsel in the M&A Group in Hong Kong, has extensive experience in advising clients on private equity investments and exits, M&A, restructuring/workout and capital market transactions in India, across Asia and in the United States. Mr. Bhasin speaks fluent English and Hindi.

Experience
  • Large International money manager in its US$200 million investment in ReNew Power in India
  • Goldman Sachs PIA in several investments in Japan, India, China and Korea
  • Cals Refineries in its US$417 million acquisition of Cenco and Atas oil refinery assets from the Hardt Group
  • Morgan Stanley as financial advisor to the independent committee of the board of Harbin Electric in its proposed management buyout
  • The underwriters, led by Morgan Stanley and Deutsche Bank Securities Inc., in connection with US$ 126 million follow on offering of MakeMyTrip Limited, the largest on line travel company in India.
  • Morgan Stanley Asia Limited as financial advisor to the special committee of Tongjitang Chinese Medicines Company in its proposed acquisition by Hanmax Investment Limited, Fosun Industrial Co., Limited and Tonsun International Company Limited 
  • Aditya Birla in restructuring its cement business by way of a demerger of the cement business from Grasim into Samruddhi, a separate group company (under a scheme of arrangement) followed by a merger of the demerged business into UltraTech, another group entity (under a scheme of amalgamation) 
  • Norwest Venture Partners and The Xander Group Inc in their proposed Rs. 4 billion (or approximately US$86 million) acquisition of a 22.22% interest in Sadbhav Infrastructure Project Limited, a company primarily involved in the development of highways and road projects in India 
  • The underwriters led by Morgan Stanley & Co. International plc in connection with the NASDAQ listing and $70 million initial public offering of ordinary shares of MakeMyTrip Limited. MakeMyTrip Limited is the parent company of MakeMyTrip (India) Private Limited, India's largest online travel agency. This is the first U.S. initial public offering by an Indian company since 2006 
  • Norwest Venture Partners as part of a consortium of private equity investors in a $425 million investment in Asian Genco, an infrastructure company with power generation assets in India. This is the biggest private equity transaction in the power sector in India and is the first investment in India in excess of $300 million since 2008 
  • China Investment Corporation in a co-investment with a U.S. based private equity fund 
  • Norwest Venture Partners in its acquisition of an equity stake in the National Stock Exchange of India Limited through the FII route 
  • Merrill Lynch, Inc. and others on the exit from a joint venture with The Royal Bank of Scotland in connection with shares in Bank of China Limited 
  • Merrill Lynch in its purchase of certain common equity shares and certain mandatorily and fully convertible debentures issued by Zoom Entertainment Network Limited (“Zoom”), collectively representing a 25% post-investment interest in Zoom. Zoom was demerged from Bennett Coleman & Company Limited, the parent company of The Times of India group, prior to the closing and telecasts the entertainment and lifestyle channel Zoom in India 
  • Merrill Lynch in its purchase of certain Series A convertible redeemable preference shares, redeemable convertible promissory note and warrants issued by Winfort Global Ltd., a Singapore company in the business of developing and licensing advanced multimedia products and technologies for the digital video market, with subsidiaries in India, Russia and the United States 
  • ORIX Corporation in its capacity as a member of a consortium in the consortium’s leveraged acquisition of a controlling stake in a listed commercial bank in Taiwan, for approximately
    US$680 million 
  • Merrill Lynch in its investment in foreign currency convertible bonds issued by Webel-SL Energy Systems Limited, the second largest producer of solar photovoltaic cells and modules in India, and listed on the Singapore Stock Exchange (SGX-ST) 
  • Merrill Lynch in its pre-IPO investment in Religare Enterprises Limited, an Indian financial services company established by the promoters of Ranbaxy Laboratories Limited 
  • CLSA Capital Partners in its investment in a company with refractory and monolithic operations in India and China 
  • Deccan Chronicle Holdings Limited in a US$49 million private placement of shares to qualified institutional buyers 
  • Merrill Lynch in its investment in foreign currency convertible bonds issued by Gemini Communication Limited, one of India’s leading networking solutions provider, and listed on the Luxembourg Stock Exchange 
  • Tata Coffee in its US$220 million acquisition of Eight O’Clock Coffee in the United States 
  • Indian leg of a US$6 billion global acquisition of Hughes Network by News Corporation 
  • Tata Technologies in its US$100 million tender offer and acquisition of INCAT plc, a UK public company 
  • Indian leg of Kennametal’s global acquisition of Milacron’s businesses 
  • E2E Serwiz Solutions in its acquisition of the call center business of TRX Inc. 
  • Accurum, Inc. in its acquisition by Kanbay International 
  • Tata Consultancy Limited in its US$1.2 billion initial public offering in India 
  • Consortium of bidders led by Hochtief Airport, a leading German airport operator, in the bid for the modernization of the Mumbai airport in India 
  • Tata Technologies in its corporate restructuring in the United States, Europe and Asia Pacific regions 
  • Tata Consultancy Limited in several multi-jurisdictional outsourcing transactions involving
    cross-border issues and offshore-onsite delivery solutions with major US companies in banking/finance, insurance, retail, automotive, IT, media and other industries
  • Major US companies in onsite-offshore outsourcing transactions with single and multiple service providers 
  • i-flex Solutions in its software licensing transactions with major US companies in the banking/finance sector 
  • Tata Consultancy Limited in its strategic alliances with major US IT companies


Publications
  • “Investing into India,” October 2008, International Financial Law Review (Private Equity and Venture Capital Review)
  • “Hitting the Ceiling,” November 2007, Best’s Review


Bar Admissions/Qualifications
New York
Bar Council of Delhi (licensed to practice in India)
Hong Kong


Languages
English
Hindi