Gaurav Dayal

Gaurav regularly advises multinational corporations, private equity and venture capital funds, sovereign investors, financial institutions, and Indian business groups on cross-border and domestic M&A, strategic and PE/ VC investments, joint ventures, business transfers, exits, and restructuring initiatives.

A significant part of Gaurav’s practice involves India entry structures - helping global corporations and funds design compliant investment routes, navigate FEMA/FDI restrictions, structure ownership and governance, and address licensing requirements and regulatory approvals in regulated sectors.

He frequently advises on strategic considerations such as India market entry, tax-efficient investment structures, risk allocation and pre IPO reorganisation, alongside execution focused support for complex and time-sensitive transactions. He also counsels clients on corporate governance, exchange control, securities regulations, data protection, foreign investment policy and group reorganisations, including business hive-offs.

His work spans diverse sectors including healthcare and life sciences, manufacturing, technology and telecom, financial services and fintech, renewable energy, consumer products, retail, food & agriculture, infrastructure, defence, real estate and hospitality.

His sectoral breadth and commercial insight enable him to anticipate risks early, negotiate nuanced commercial terms, and align legal strategies with long-term business objectives.

Clients and independent directories consistently highlight Gaurav’s clarity, responsiveness, and commercial acumen. Testimonials describe his ‘sharp knowledge’, ‘strong understanding of underlying commercial objectives, ‘pro‑deal approach’, and praise him as a ‘trusted and go‑to advisor’. Clients also note that he is ‘always reachable’ and offers ‘innovative solutions’ backed by deep expertise in corporate law and transactions.

Gaurav has recently closed: (a) the acquisition of Kavida.ai by QAD Inc.; (b) the acquisition of SSI Aeration group by Ingersoll Rand; (c) the acquisition of fire suppression systems business by Pacific Avenue Capital Partners from Carrier Global; and (d) India leg of the divestiture of the industrial electric motors business by Regal Rexnord to WEG. 
 

Some of his private equity deals at LKS include, investments in (a) Nu Hospitals (nephrology hospital chain); (b) NewMe Asia (fast fashion brand); (c) Futura Surgicare (medical devices manufacturer); (d) Rite Water Solutions (potable water solutions provider); (e) Lifewell Diagnostics (healthcare delivery platform); (f) Alphavector (Ninety One Bikes); and (g) LifeCell International (India’s largest stem cell bank).

Gaurav has also represented various global companies in their acquisitions in India, including Manufacturing Technology Inc. (a global leader in friction and resistance welding) and BICS, a global telecommunications provider.
 

Before joining LKS, he spent more than a decade at Shardul Amarchand Mangaldas in the M&A and Private Equity practice.

REPRESENTATIVE EXPERIENCE 

Some of Gaurav’s key representations have been set out below*:

Nu Hospitals Private Limited, a leading nephrology and urology speciality hospital chain, is in connection with a private equity investment by Somerset Indus Capital Partners, a healthcare-focused private equity firm.

Point72 Ventures, a leading US venture capital firm, in the US$ 12 million Series B round of NewMe Asia, a leading fast fashion brand in India. The funding round also saw participation from Accel and Fireside Ventures (existing investors).

QAD Inc., a global leader in manufacturing and supply chain software, on its agreement to acquire Kavida.ai, a cutting-edge platform specialising in AI-driven procurement solutions within the manufacturing sector (India leg)

SSI Aeration (Stamford Scientific Int'l) and its subsidiaries, a global leader in the design and manufacturing of wastewater treatment plant equipment, in connection with its acquisition by Ingersoll Rand, a global industrial company providing air, fluid, energy, and medical technologies. (India leg)

Futura Surgicare Private Limited, a leading medical devices player in India, is in connection with the $25 million investment by Jashvik Capital, a Healthcare & Consumer-focused investment firm.

Pacific Avenue Capital Partners, in connection with its acquisition of substantially all assets of Kidde-Fenwal, Inc., a global leading provider of fire suppression systems and controls, is seeking approval from the United States Bankruptcy Court for the District of Delaware. (India leg)

Regal Rexnord, a global manufacturer of electromechanical equipment, in connection with the divestiture of its industrial motors and generators business to WEG, one of the world's largest manufacturers of electric-electronic equipment, for US$400 million (India leg).

Premion, a CTV/OTT advertising platform of TEGNA, in connection with its acquisition of Octillion Media, a demand-side platform (DSP) focused on Local CTV/OTT Advertising. (India leg)

Lifewell Diagnostics, a PE-backed healthcare delivery platform with full-stack diagnostics in relation to: 
•    private equity investment of US$ 80 million by Orbimed PE; and 
•    its strategic acquisition of targets in the diagnostics space for its platform.

LifeCell International (India’s largest stem cell bank) in relation to private equity investments of US$ 45 million by Orbimed PE.

Alphavector (Ninety One Bikes) in their series A fund raise of US$ 30 million from A91 Partners and other investors.

Rite Water Solutions, a potable water and water quality improvement solutions provider, in relation to a private equity investment by Incofin of EUR 7.5 million.

Belgacom International Carrier Services, a global communications provider, in relation to its acquisition of Mobtexting, a leading CPAAS player in India.

Manufacturing Technology Inc., a global leader in friction and resistance welding, in its acquisition of Friction Welding Technologies Private Ltd. in India.  

Blackstone, CPPIB and GIC in relation to their acquisition of the global financial and risk business of Thomson Reuters for US$ 17 billion.

Blackstone PE in relation to: 
•    acquisition of the global HR outsourcing business of Aon PLC for US$ 4.8 billion; and
•    bulk deal / open market sale of its partial stake in SH Kelkar.

I Squared Capital on the sale of its 100% stake in Amplus Energy to Petroliam Nasional Berhad (Petronas) for US$ 390 million.

Punjab National Bank in relation to its bancassurance joint venture with MetLife.

DLF Group with respect to the hive-off of its wind-power undertakings in Karnataka, Tamil Nadu, Gujarat and Rajasthan.

Indiavidual Learning Pvt Ltd. (Embibe) and its founder on strategic investment by Reliance Industries to form India’s largest AI based education platform (deal value: US$ 180 million).

IFC, Rabo PE and IFFCO in relation to the sale of their combined stake (~70%) in NCMSL (India’s largest private-sector agri logistics player) to Fairfax (deal value: US$ 126 million).

Temasek in relation to its investment of US$ 100 million in Devyani International Limited (engaged in QSR business and operator of KFC Pizza Hut and Costa Coffee chains in India).

Mrs. Bectors Food Specialities (engaged in the biscuits business of the Cremica group) in relation to investment by CX Partners and Gateway Partners and exit of Motilal Oswal PE (deal value: US$ 100 million).

International Tractors Limited (Sonalika Group) with respect to a secondary investment by Blackstone PE (deal value: US$ 100 million).

India Agri Business Fund (a Rabobank-sponsored fund) in relation to its various investments in India, including in: 
•    Nature Bio (subsidiary of LT Foods engaged in organic food business)
•    its exit from Sri Biotech Laboratories, a multidisciplinary agri-biotechnology company

Welsh Carson in relation to its strategic growth investment in Simeio Solutions, an identity and access management services provider.

IDFC Alternatives (now Investcorp) in relation to its investments in: 
•    InCred Finance, a technology-led financial services company
•    Citykart Retail, a value apparel retail chain

One97 Communications (PayTM) in relation to: 
•    its series C fund raise; and 
•    its strategic investment in Creditmate, an AI-driven loan collection tech platform.

Den Networks, one of India’s largest multi-system operators, a listed company, and its promoters, in relation to a follow-on investment by Goldman Sachs.

* Certain of these matters were undertaken prior to joining LKS.