LegaLogic advises Innova Rubbers and Vee Tee Auto in raising investment of INR 360 crores from True North
We are pleased to announce that LegaLogic advised Innova Rubbers and Vee Tee Auto and their promoters and shareholders in raising investment of INR 360 crores from True North via its private credit fund.
Innova Rubbers, established by Ambardekar, Bakshi and Mekal families in 1969, is a leading manufacturer of automotive rubber moulded and rubber-to-metal bonded NVH (noise, vibration and harshness) products.
Vee Tee Auto, founded in 1988 by the same promoter families, specializes in aftermarket trading of suspension parts, oils, filters, steering components, brake parts, and other auto components for two, three and four-wheeled vehicles.
The investment will be used to support the consolidation of promoters’ stake, providing control and enhancing growth prospects for both companies.
Read more at:
- https://www.business-standard.com/amp/content/press-releases-ani/true-north-private-credit-leads-and-makes-strategic-inr-360-cr-investment-in-innova-rubbers-and-vee-tee-auto-125102900895_1.html
- https://www.vccircle.com/truenorth-s-private-credit-fund-bets-on-innova-rubbers-vee-tee-auto
- https://www.entrepreneur.com/en-in/news-and-trends/true-north-private-credit-invests-inr-360-cr-in-innova/498896
LegaLogic (https://legalogic.com/) was the sole legal counsel for Innova Rubbers, Vee Tee Auto and its promoters and shareholders, and advised on structuring, drafting, reviewing, negotiation and finalisation of transaction documents and closing of the transaction.
Commenting on LegaLogic’s role, Sameer Ambardekar, Managing Director, Vee Tee Auto Manufacturing Company Private Limited, Sachin Ambardekar Managing Director Innova Rubbers Private Limited said “LegaLogic’s calm, hands-on counsel was pivotal in navigating this complex, multi-stakeholder transaction with tight timelines and many moving parts. They combined strong commercial judgement with meticulous drafting, proactive issue-spotting, and steady negotiation support — always two steps ahead. Their clarity, responsiveness and solution-orientation kept momentum throughout and gave us complete confidence in achieving a timely close. They were true partners from structuring to signing.”
Prakhar Sharma, Prashant Krishnani, Neha Deshmukh and Shruthi Sreekumar worked on this transaction with Vikas Agarwal. Girija Gadgil and Rahul Kulkarni advised on the real estate related aspects of the transaction.
