“Distinguished Practitioner”, Corporate M&A and Private Equity, Asialaw, 2021.

Ruchir Sinha

Partner

Mumbai | +91 81692 72986 | ruchir.sinha@touchstonepartners.com

Ruchir heads the Mumbai office of the firm and advises on private and public equity investments, M&A, structured finance, and fund formation from a legal, regulatory and cross-border tax perspective. He co-chairs APREA’s infrastructure committee which includes leading sovereign wealth funds and global financial sponsors. He advises leading sponsors, institutional investors, and SWFs in their investments across asset classes with a focus on financial services (BFSI), infrastructure, and real estate sectors. He has advised on some of the largest investment and acquisition transactions as well as on the setup of asset-specific tax optimized investment platforms and managed accounts. Ruchir joined the firm in November 2020 from another established firm where he advised clients like GIC, Brookfield, Investcorp on transactions exceeding USD 5 billion in deal value in 2019 alone.

He actively contributes to policy advocacy for private equity and structured finance, and has particularly contributed to the development of the SEBI REIT and InvIT Regulations.

  • Advised GIC on their investment in Delhivery for USD 75 million
  • Advised Alpine Capital in their investment in KreditBee for USD 75 million
  • Advised Glade Brook Capital and Canaan Valley Capital in their investment in Dailyhunt for USD 100 million
  • Advised GIC on their investment in setting up of the GIC – IRB InvIT (First unlisted Infrastructure Investment Trust) for USD 600 million*
  • Advised GIC in their investment in (i) the Reliance Tower InvIT alongside Brookfield and British Columbia Investment Management Company to acquire JIO Telecom Towers for USD 3.4 billion; and (ii) in co-investment into India Grid InvIT with KKR for USD 150 million*
  • Advised GIC in its PIPE investment into HDFC of USD 800 million; Godrej Properties of USD 150 million; Capital First for USD 140 million; and Prestige Properties for USD 100 million*
  • Advised Investcorp Bank in its acquisition of IDFC’s real estate and private equity asset management businesses for AUM for USD 500 million, and in setting up their offshore fund vehicles for funding their various investment strategies*
  • Advised GIC in their structured debt investment into the GMR Group for USD 300 million and IRB Infrastructure for USD 200 million*
  • Advised Proprium Capital Partners in their mezzanine financing into Scalar Projects (one of the largest warehousing platforms in India)*
  • Advised Brookfield Capital on several structured debt investments and setup of their domestic pooling vehicle*

* All transactions were completed prior to joining Touchstone Partners and are in the public domain.

Education

  • ILS Law College, Pune, LLB, 2005

Professional Qualifications

  • Admitted to the Bar Council of Delhi, 2007

Recognitions

  • “Distinguished Practitioner”, Corporate M&A and Private Equity, Asialaw, 2021.
  • “Notable Practitioner”, Corporate M&A and Private Equity, IFLR 1000 (2020).
  • Recognised for “Most Innovative” transactions by Financial Times, London.
  • Nominated as a “Deal Maker of the Year 2019”, Thomson Reuters- Asian Legal Business, 2019.
  • Nominated amongst the top 3 corporate lawyers in India (under 35 category), IDEX Legal Awards, 2015.
  • Winner of the IBA Young Lawyer Scholarship, Vancouver, 2010.
  • Elected Member, Royal Institute of Chartered Surveyors.

Interview and Publications

Interview with MINT on Impact of Covid-19 on the deal-making landscape’ (June 2020)

Interview with ET Now on REITs and INVITs (April 2017)

‘How will COVID-19 losses impact valuation in M&A transactions?
(The Economic Times, May 2020)

‘Should the court restrain lenders from invoking share pledge?’ (Moneycontrol, April 2020)

‘Decoding India’s infrastructure investment trusts’ (Infrastructure Investor (PEI Publication), October 2019)

‘Pledging of Shares; Do lenders need to rethink their strategy?(Business Standard, March 2019)

‘Issues for offshore investment funds: To declare or not to declare’ (MINT, September 2018)

‘Evolving negotiation strategies in late stage PE investments’ (MINT, August 2017)

‘REITs: Will they be attractive enough?’ (MINT, June 2017)

‘Thin Capitalisation norms to weigh on realty offshore funding’ (ET Realty, February 2017)

Realty reforms to boost offshore funds’ (ET Realty, December 2016)

REITs- Will they now be a reality?
(ET Realty, February 2016)

‘Externalisation: Regulatory regime forcing companies’ migration to foreign shores’ (The Economic Times, January 2014)

‘The great deception: Satyam’s accounting scandal offers salutary lessons to companies’ (Authored Cover Story, Asialaw, 2009)