Kunal Arora

Other Activities

Some of Kunal’s key representations have been set out below:

Corporate/M&A

1. ETS Global, the creator of the TOEFL tests and GRE general test) in relation to their:
   • Strategic investment in the Series C funding of Leverage Edu, an overseas- focused higher education counselling platform. This also involved representation on behalf of Shorelight Holdings, a leading international student marketplace in the United States connecting international students, universities to drive student enrollment and performance at scale.
   • Strategic investment into the ed-tech unicorn upGrad, in a funding round of USD 210 million along with a clutch of marquee investors.
   • Strategic investment in the Series B funding and bridge round of the ed-tech startup CollegeDekho (deal value: collectively USD 40 million).
2. Ambience Group, a large player engaged in the business of real estate development, in relation to the sale of a project situated in Panipat to M3M India for development of a township. This was one of the largest real estate acquisition deals of the year 2022 (deal value: INR 1500 crore).
3. IndiaMart Intermesh, India’s largest online B2B marketplace in relation to their:
   • Investment in Series B funding round of USD 19.4 million in the fleet management and predictive analytics platform Fleetx Technologies.
   • Acquisition of a majority stake in Live Keeping, a mobile application that allows users to access their Tally ERP9 data (deal value: USD 5.75 million).
   • Partial sale of stake in ProcMart, a B2B procurement portal for industrial buyers, as part of a larger investment round.
4. The promoter of Intellicar, as part of Intellicar’s acquisition by TVS Motors. Kunal advised the client in relation to the transaction including assistance for negotiation and finalisation of the transaction documents.
5. Asian Hospitals, a company engaged in the business of operating hospitals in relation to their Series B fund raising from CDC, UK government’s development finance institution.

Real Estate

1. ATLBattery Technology, one of world's leading producer of high-quality rechargeable lithium-ion battery cells and packs, in relation to their acquisition process of a large greenfield industrial property admeasuring 190 acres in north India from the state government, for setting up a ‘mega’ manufacturing facility.
2. Thomson Reuters, in relation to acquisition of leasehold rights over large commercial properties in Bengaluru and Mumbai.
3. Airports Authority of India (AAI) in relation to:
   • A transaction involving grant of leasehold rights to Mihan India Limited, a joint venture company between the State of Maharashtra and the AAI, for redevelopment of Nagpur Airport.
   • The allotment of hangars at various airports across India. The role involved preparation of the bid documents including the concession agreement and advising AAI on the entire process and issues related to the project.
4. Indian Tourism Development Corporation, in relation to transactions involving sale of their hotels being operated under the brand name ‘Ashok’. The role involved advising the government on the transaction documents including asset purchase agreements, agreement to sell and sale deeds.
5. Maruti Suzuki India Limited in relation to acquisition of properties across various cities in India. Kunal’s role involved carrying out the due diligence of the properties, preparation of the transaction documents and assistance in relation to the registration of the sale deed and the mutation process.