We are pleased to announce that Acuity Law acted as the sole legal advisor to Sreyas Holistic Remedies Private Limited operating under the brand name of ‘Oliva Skin and Hair Clinic’ (“Oliva”), and Dr. Prashant Soma, promoter and shareholder of Oliva, in an investment of approximately USD 65 million by Kedaara Capital Growth Fund III LLP into Oliva by way of a primary issuance and a secondary transfer of shares of Oliva to Kedaara Capital. To read more about the transaction please click here.
Oliva is engaged in the healthcare and wellness business and offers aesthetic dermatology treatments in seven cities across India.
Acuity Law represented Oliva and provided legal advice across the breadth of the transaction, starting from appointment of the investment banker; invitation of bids from potential investors; review and finalisation of heads of terms for the transaction; review, negotiation, and finalisation of the transaction documents including share subscription agreements, share purchase agreements, shareholders agreement and other ancillary documents; and providing closing assistance in relation to the investment.
Dr. Prashant Soma, the chief executive officer and key continuing shareholder in Oliva said, “This is my second transaction where Acuity Law advised me on the legal aspects. I have found the Acuity team headed by Souvik to be dilligent, approachable & willing to take calls even at odd hours. A special thanks to Aman from the team who was always there to clear the queries. I wish Acuity team the very best for the future”.
The transaction team members at Acuity Law were Souvik Ganguly, Aman Bagaria, Akhil Ramesh, and Shrishti Mishra.