ALMT Legal advises SIDBI Venture Capital on its investment in Binbag Environmental Services

ALMT Legal advised SIDBI Venture Capital Limited on its investment in Binbag Environmental Services Private Limited.

ALMT Legal provided comprehensive legal advice on an end-to-end basis to SVCL and to lead the transaction to closure. This inter alia included review, negotiation, and finalisation of the transaction documents including the Securities Subscription and Share Holders’ Agreement, employment agreements, etc. The Firm worked closely with SVCL and the Promoter to facilitate the successful completion of the transaction.

The transaction team was led by Statira Ranina (Senior Partner) and Vaishakh Kapadia (Partner), ably supported by Sheetal Mishra (Principal Associate), Amishi Vira (Senior Associate) and Faizan Khatri (Associate).

The transaction involved funding by SVCL by way of both, equity, and convertible debt instruments. The funding acts as a strategic investment to support the company's growth and business expansion primarily focussing on enhancing the capacity of the existing recycling plants and setting up a new lithium-ion battery recycling unit by the Company.

Binbag Environmental Services is a company engaged in the business of collection, transportation, recycling, refurbishing, reusing electronic and electrical waste and other waste items.

The funding acts as a strategic investment to support the company's growth and business expansion primarily focussing on enhancing the capacity of the existing recycling plants and setting up a new lithium-ion battery recycling unit by the Company.

Binbag has previously secured funding from investors such as the Indian Institute of Management Bangalore, IIT Mandi Catalyst, and Spectrum Impact, with a total funding of $948K and a valuation of $1.91 million as of July 2019.

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