Gaia Smart Cities Solutions Privated Limited (Gaia), a leading player in India’s Internet of Things (IoT) and smart city solutions sector, received an investment from prominent angel investors Devang Mehta and Sandeep B. Shetty. This funding was targeted at accelerating Gaia’s product development in the smart cities space and advancing its IoT-enabled solutions for urban infrastructure. Majmudar & Partners played a crucial role in the transaction by advising the investors and negotiating critical legal documents.
Facilitating the Transaction
Majmudar & Partners played a pivotal role in advising and supporting Devang Mehta and Sandeep B. Shetty throughout the transaction, specifically by:
- Conducting Legal Due Diligence: Conducted an in-depth review of Gaia’s’ legal and regulatory standing to ensure transparency and to mitigate governance and compliance risks for the investors.
- Drafting and Negotiating Key Agreements: Structured and negotiated the Shareholders Agreement and Share Subscription Agreement, alongside the restated Articles of Association and other ancillary transaction documents, to accurately capture the terms of investment, define governance rights, and align shareholder expectations.
- Ensuring Regulatory Compliance: Provided guidance to the investors on navigating the compliance landscape under Indian corporate and investment laws, including ensuring the transaction adhered to the foreign direct investment norms applicable to strategic technology sectors.
- Establishing Investor Rights and Protections: Structured governance mechanisms, board composition, and exit provisions to safeguard investors’ interests while ensuring smooth operational collaboration with Gaia’s management.
The investment by Devang Mehta and Sandeep B. Shetty in Gaia highlights the growth potential of India’s smart city ecosystem. With Majmudar & Partners’ meticulous legal guidance, the investors were able to complete a structured and compliant investment that aligns with their strategic vision.
With extensive experience in joint ventures and investment transactions, Majmudar & Partners offers expert legal services to businesses looking to expand in India’s growing technology and smart city sectors. Contact us today for strategic legal counsel on your next venture in India.