ICICI Prudential Office Yield Optimiser Fund – AIF II, under the management of ICICI Prudential Asset Management Company Limited, has successfully acquired NCP Commercials Private Limited, a commercial real estate entity based in Mumbai. The acquisition involves the ownership and operation of multiple floors within the VIOS Tower, a prominent commercial office space in Mumbai. This significant transaction is valued at over ₹525 crore and encompasses approximately 300,000 square feet of pre-leased office space spread across nine floors of the VIOS Tower located in Wadala, Mumbai.
Legal Counseling by SNG & Partners
SNG & Partners played a crucial role in the legal structuring and execution of this transaction. Their responsibilities included crafting and implementing an inter-linked acquisition structure, drafting and negotiating the main transaction documents, and offering strategic advice on transaction strategy, conditions precedent, risk allocation, closing mechanics, and regulatory compliance.
The firm ensured seamless coordination for the simultaneous execution and completion of multiple definitive agreements, thereby maintaining legal and commercial consistency across all transaction aspects.
Key Personnel Involved
The transaction team was led by Aditya Vikram Dua, a Partner and Head of Financial Services at SNG & Partners, supported by Ayushi Parnami (Principal Associate), Bhavya Chopra (Associate), Carishma Bhargava (Associate), and Sparsh Sinha (Associate). Strategic guidance was provided by Amit Aggarwal, the Managing Partner for Corporate & Non-Contentious Practices, and Devyani Dhawan (Counsel).
The real estate practice team, responsible for title diligence and an asset-level review, was led by Samreen Paloba, a Partner, with assistance from Ayushi Shah (Principal Associate) and Zainab Patel (Associate).
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