ALMT Legal Advised SIDBI Venture Capital On Investment In Binbag Environmental Services

ALMT Legal advised SIDBI Venture Capital on investment in Binbag Environmental Services

ALMT Legal advised SIDBI Venture Capital Limited (SVCL) on its investment in Binbag Environmental Services Private Limited, a company engaged in recycling, refurbishing, and reusing electronic and electrical waste.

ALMT Legal provided comprehensive end-to-end legal advisory services for SVCL, including the review, negotiation, and finalisation of transaction documents such as the Securities Subscription Agreement, Shareholders’ Agreement, employment agreements, and other deal-related documents. The firm worked closely with both SVCL and the Promoter to facilitate smooth closure of the transaction.

The transaction involved an investment by SVCL through a combination of equity and convertible debt instruments. The funding is a strategic step to support the expansion of Binbag’s recycling infrastructure, including enhancing the capacity of its existing plants and establishing a new lithium-ion battery recycling unit.

Binbag Environmental Services has earlier secured funding from entities such as Indian Institute of Management Bangalore, IIT Mandi Catalyst, and Spectrum Impact, with a total funding of $948,000 and a valuation of $1.91 million as of July 2019.

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

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