ALMT Legal advised SIDBI Venture Capital Limited on its investment in Zerund Manufacturing Private Limited, a company engaged in manufacturing fly ash bricks with patented technology.

The transaction involved funding by SIDBI Venture Capital Limited and NEDFi Trustee Limited. This marks Zerund’s third round of funding, raising USD 150 million, and the transaction included a variety of securities. The funding acts as a strategic investment to support the company’s growth and expansion within the north-eastern region of the country, in Maharashtra and in neighbouring countries such as Bangladesh.

ALMT Legal’s role involved providing comprehensive legal advice on an end-to-end basis to lead the transaction to closure. This inter alia included review, negotiation and finalisation of the transaction documents including the SSA, SHA and Employment agreements. The ALMT Legal team worked closely with SIDBI Venture Capital Limited, Promoters, and other stakeholders to facilitate the successful completion of the transaction.

ALMT Legal team was led by Senior Partner, Statira Ranina; Partner, Vaishakh Kapadia and Principal Associate, Sheetal Mishra who advised on the end-to-end transaction. Associate, Shivani More advised on secretarial compliances.