Cyril Amarchand Mangaldas(CAM) advised Sobha Limited (“Company“) in it’s fast track rights issue of 12,107,981 partly paid-up equity shares, aggregating to ₹19,990.28 million (the “Issue”). The Issue was undertaken by the Company in accordance with Regulation 99 and Part B of Schedule VI of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. The letter of offer was filed with SEBI and the Stock Exchanges on June 12, 2024. The Issue was subscribed 1.4x times.
CAM played crucial role, provided comprehensive legal counsel and strategic guidance to ensure the successful execution of the transaction.
The Capital Markets team of Cyril Amarchand Mangaldas advised on the matter. The transaction was led by Yash Ashar, Senior Partner; Ramanuj Kumar, Partner& Co-Head – Projects (Energy & Energy Transition); with support from Ayana Banerjee, Associate; and Zeb Burk, Associate.
Other parties and advisors to the transaction included JM Financial Limited, acted as book running lead manager to the issue; BOB Capital Markets Limited, acted as book running lead manager to the issue; Hogan Lovells Lee & Lee, acted as international legal counsel for book running lead managers.
The transaction was signed on 19th December and closing was done on 19th July, 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.
