DSK Legal assisted and advised Haystack Analytics Private Limited (“Haystack”), in relation to investment by Sun Pharmaceutical Industries Limited (“Sun Pharma”) to acquire 9.6% of Haystack’s total outstanding securities.

Haystack is a health-tech company based at IIT Bombay, creating clinical genomics products, which enable diagnostic labs and hospitals to offer personalized diagnostics. It’s tuberculosis genomics diagnostic solution is recognized as the top innovation by Biotechnology Industries Research Assistance and was launched by the Prime Minister of India.

Sun Pharma is a multinational pharmaceutical company, engaged in the business of manufacturing and/or selling pharmaceutical formulations and ingredients, across the globe.

The scope of work of DSK Legal included: (i) conducting vendor due diligence for Haystack; and (ii) reviewing, revising, negotiating, and finalizing securities subscription agreement, shareholders agreement, and other transaction documents;

Deal Value: ~ INR 330,000,000 (Rupees Three Hundred Thirty Million)

DSK Team: The team representing Haystack comprised of the following lawyers:

(i)   For the transaction documents: Mr. Harvinder Singh (Partner), Ms. Shubhi Ameriya (Principal Associate), Mr. Chandan Dubey (Senior Associate) and Ms. Mitushi Garg (Senior Associate).

(ii) For the vendor due diligence:  Ms. Shubhi Ameriya (Principal Associate), Mr. Chandan Dubey (Senior Associate), Ms. Diksha Mazumdar (Associate), Mr. Brijesh Ranjan Sahoo (Associate) and Ms. Sumedha Tewari (Associate).

Mr. Harvinder Singh acted as the lead partner for this transaction and Mr. Anjan Dasgupta acted as the relationship partner.