Shardul Amarchand Mangaldas advised Indiabulls Ventures Limited (Indiabulls) on its INR 2000 Crore rights issue. The Rights Issue was oversubscribed approximately 1.33 times.
The Capital Markets Team of Shardul Amarchand Mangaldas acted as Indian legal counsel to Indiabulls. The Transaction team was led by Mr. Kaushik Mukherjee, Partner; and included Mr. Narayan Kedia, Principal Associate; Mr. Murtaza Zoomkawala, Senior Associate; Mr. Saswat Mohanty, Associate; and Ms. Nirali Trivedi, Associate.
As a part of the transaction, Indiaabulls would issue partly paid up equity shares of Indiabulls Ventures Limited for an amount aggregating up to INR 2000 Crore on a rights basis to eligible equity shareholders of the Company in the ratio of 3 rights equity shares for every 16 fully paid up equity shares held by eligible equity shareholders.
Other advisors to the transaction were Axis Capital Limited (Lead Manager to the Issue); AZB & Partners (Indian legal counsel to the Lead Manger); and Squire Patton Boggs Singapore LLP (International legal counsel to the Lead Manager).
The Draft Letter of Offer was dated September 28, 2017; Letter of Offer was February 1, 2018; and Date of Allotment was March 16, 2018.
About Shardul Amarchand Mangaldas & Co.
Shardul Amarchand Mangaldas & Co. (SAM & Co.), founded on almost a century of legal achievement, is one of India’s leading full-service law firms. The firm’s mission is to enable business by providing solutions as trusted advisers through excellence, responsiveness, innovation and collaboration. SAM & Co. is known globally for its exceptional practices in mergers & acquisitions, private equity, competition law, insolvency & bankruptcy, dispute resolution, capital markets, banking & finance and projects & infrastructure.
The Firm has a pan-India presence and has been at the helm of major headline transactions and litigations in all sectors, besides advising major multinational corporates on their entry into the Indian market and their business strategy. Currently, the Firm has over 520 lawyers, including 100 Partners, offering legal services through its offices at New Delhi, Mumbai, Gurugram, Ahmedabad, Kolkata, Bengaluru and Chennai.