Ayushi Toshniwal

Ayushi has over 9 years of experience in M&A, Joint Ventures, Private Equity and General Corporate advisory. Her deliberate sector agnostic approach brings an all-round perspective on transactional and advisory mandates.

Her core practice area is M&A, joint ventures, private equity and venture capital investments, and general corporate matters. She represents both buy-side and sell-side clients across sectors, with particular depth in cross-border M&A, FEMA and foreign exchange structuring. Her practice extends to public M&A, including open offer structuring and takeover code advisory on transactions involving listed companies. She also regularly advises private equity and venture capital funds on investment structuring, exit mechanisms, and portfolio company governance.

Ayushi’s sector-agnostic approach allows her to bring a well-rounded commercial perspective to transactional and advisory mandates. She has worked across infrastructure, renewables, energy, FMCG, manufacturing, roads, financial services, healthcare, and mining sectors.

Relevant Experience:

Advised Adani Group on its complete exit from the Adani Wilmar joint venture, one of India’s largest FMCG transactions. Recognised as IBLJ Deal of the Year 2024.
Advised Adani Wilmar Ltd. on its acquisition of G D Foods, a prominent food FMCG player in North India.
Advised PSP Projects Ltd. and its promoter on sale of 30% in PSP Projects to Adani group and subsequent open offer.
Advised JSW Steel and JFE Steels consortium on an acquisition of thyssenkrupp Electrical Steel.
Advised Dr. Lal Path Labs on its acquisition of Suburban Diagnostics.
Advised Sammaan Capital (fka Indiabulls Finance) in its purchase of its wholesale loan business from its WOS.
Advised on the India leg of a cross-border merger in the clinical research sector between Worldwide Clinical Trials and Catalyst Clinical Research.
Advised Adani Road Transport in its 100% acquisition of DP Jain TOT Toll Roads.
Advised Adani Road Transport in its 100% acquisition of 2 HAM highway road projects from DRN Infrastructure.
Long-standing engagement advising Coal India on a range of corporate matters including advisory on joint ventures, incorporation of subsidiaries, and other general corporate matters.
Advised REHAU AG – a leading global polymers business – in the acquisition of an Indian furniture materials busess.
Advised HG Infra on sale of 4 SPVs to Highways Concessions One (KKR’s roads assets platform).
Advised Infibeam Avenues on several acquisition transactions and general corporate matters.
Advised Sunsource Energy, its promoters and existing investor on a strategic investment by SHV Energy.
Advised Neev Fund on their investment in Hygenco Green.
Advised Neev Fund on their investment in Nutrifresh Farm Tech.
Advised Neev Fund on their investment in Punjab Renewables Energy Systems.
Advised Neev Fund on their investment in Chakr Innovation.
Advised Neev Fund on their follow-on investment in Blue Planet.
Advised Neev Fund on their exit from Mahindra Education.
Advised Neev Fund on their exit from Leap India Food and Logistics.
Advised Neev Fund on their exit from SunSource Energy.
Advised Growthpond Technology (operating as Dukaan) and its founders on its early-stage funding from Matrix & Lighthouse. Also advised the client on its high-stake dispute with Khatabook and its founder.
SWAMIH Fund on its day-to-day corporate matters including on their fund documentation, structuring advisory and compliance matters from time to time.
Advised a leading Japanese conglomerate on its anticipated shareholder dispute with a leading Indian business group pertaining to their Indian joint venture.