Cyril Amarchand Mangaldas (CAM) advised ICICI Securities Limited, Axis Capital Limited, IIFL Securities Limited & Emkay Global Financial Services Limited (the “BRLMs”) in relation to the initial public offering of equity shares of Awfis Space Solutions Limited, the largest flexible workspace solutions company in India (“Awfis”) . The transaction involved an issuance of equity shares of Awfis aggregating to approximately Rs. 600 crores. The Equity Shares commenced trading on BSE Limited and National Stock Exchange of India Limited on May 30, 2024.
Awfis is the largest flexible workspace solutions company in India, in terms of total number of cities, centers and micro-markets. It has a network of 169 total centers across 16 cities with 105,258 total seats as of December 31, 2023 CAM’s role encompassed advising BRLM’s on regulatory compliance, preparing necessary documentation, and ensuring the smooth execution of the IPO process.
The Capital Markets team of Cyril Amarchand Mangaldas advised on the matter. The transaction team was led by Gokul Rajan, Partner & Regional Head Markets Practice (Northern Region); with support from Rushab Dhandokia, Principal Associate; Iti Mishra, Senior Associate; Nitesh Mishra, Associate; and Shashwat Solanki, Associate.
Other parties and advisors to the transaction included White & Case Pte. Ltd., acted as international legal counsel for book running lead managers; and Quillon Partners acted as legal counsel for investor selling shareholder.
The transaction was signed on 27th July,2023 and closing was done on 30th May, 2024. ____________________________________________
About Cyril Amarchand Mangaldas
Cyril Amarchand Mangaldas (cam) is India’s leading law firm with a global reputation of being trusted advisers to its clients. The Firm advises a large and diverse set of clients, including domestic and foreign commercial enterprises, financial institutions, private equity and venture capital funds, start-ups, government and regulatory bodies. The Firm generalists,specialists and senior ex-regulators expertly guide clients across a spectrum of transactions,sectors and regulations. The Firm is one of the largest full-service law firm in India and offices in key business centers at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City, Singapore and Abu Dhabi.
The Firm received “National Law Firm of the Year: India” at the IFLR Asia-Pacific Awards for the second consecutive years in 2023 and 2022 and “Innovation in Advancing Markets” award at the FT Innovative Lawyers Asia Pacific 2022 Awards. The Firm had won “India Deal Firm of the Year” at the ALB India Awards and “Firm of the Year” at the IFLR1000 India Awards in 2022.
