The details of the deal are as follows:

Practice Area: Private Equity  

Sector: Renting of returnable packaging and pooling solutions for products including pallets, totes and boxes and purchase and sale of pallets and containers. 

Date of Announcement: 4th August 2021 

Completion Date: 10th August 2021 

Name of the Client: Mayfield India II, Ltd. (“Mayfield”) 

Sixth Sense India Opportunities I (“Sixth Sense I”) 

IndiaNivesh Growth and Special Situations Fund (“IndiaNivesh”) 

(collectively, “Sellers”) 

Target: Leap India Private Limited (“Company”) 

Deal Description: Secondary sale by: (a) Mayfield of a portion of its minority stake in the Company to Schroder Adveq Asia Mauritius VII Limited; (b) and IndiaNivesh of a portion of its minority stake in the Company to IIFL India Private Equity Fund; (c) Sixth Sense I of its minority stake in the Company to IIFL India Private Equity Fund and IIFL Seed Ventures Fund – Series 2 (“IIFL”).  

Role of the Firm: Veritas Legal acted for and advised the Sellers in relation to the secondary sale of their minority stake in the Company. 

Total Consideration: Confidential 

Concerned Partner: Nandish Vyas 

Concerned Senior Associate: Somrita Chatterji 

Concerned Associate: Anish Patel 

Other related Legal Advisors and Whom they are Advising 

Jerome Merchant + Partners acted for IIFL, and Proskauer Rose LLP acted for Schroder Adveq Asia Mauritius VII Limited