Leap India Food and Logistics Private Limited is involved in building, developing and operating agricultural silos being floated by the Food Corporation of India (FCI) in Rajasthan, Uttar Pradesh, Madhya Pradesh, Bihar, Odisha, West Bengal, Jharkhand and Chhattisgarh. It is a PE firm backed by the State Bank of India (SBI) and UK's Department for International Development.
The General Corporate Practice of Shardul Amarchand Mangaldas assisted in conducting a due diligence on Leap India Food and Logistics and its group entities; as well as reviewing and negotiating on the transaction documents. The Private Equity Transaction Team was led by Jay Parikh, Partner; and included Aastha Khurana, Senior Associate; Kriti Krishnan, Associate and Pallavi Payal, Associate.
Deepto Roy, Partner; and Abhay Sharma, Partner also advised on the transaction.
As a part of the transaction, Neev Fund would be investing in group entities of Leap India Food and Logistics Private Limited and the transaction involves funding for agri-silos projects under 32 year concessions from FCI in the States of Rajasthan, Uttar Pradesh, Madhya Pradesh, Bihar, Odisha, West Bengal, Jharkhand and Chhattisgarh. This is the first time FCI has floated concessions for agri-silos on a PPP model.
The deal was signed on April 4, and the closing of the transaction is subject to certain conditions precedent. (NewsVoir)