Cyril Amarchand Mangaldas (CAM) advised Akums Drugs and Pharmaceuticals Limited (the “Company”) as its legal counsel as to Indian law, on the initial public offering of 27,368,151 equity shares (“Equity Shares”) aggregating to INR 18,567.37 million (the “Offer”). The Offer consisted of a fresh issue of 10,037,716 Equity Shares aggregating to INR 6,800 million and an offer for sale of 17,330,435 Equity Shares aggregating to INR 11,767.37 million by the Promoters of the Company and Ruby QC Investment Holdings Pte. Ltd (“Quadria Capital”). The Equity Shares commenced trading on BSE Limited and National Stock Exchange of India Limited on August 6, 2024.
The Offer received overall subscription of close to 63 times, with the portion reserved for qualified institutional buyers subscribed more than 90 times.
CAM’s role encompassed advising Company 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 was led by Yash Ashar, Senior Partner; Gokul Rajan, Partner& Regional Head Markets Practice (Northern Region); with support from Nayan Jain, Principal Associate; Chinar Gupta, Senior Associate; Rajshree Agarwal, Associate; Shreya Jain, Associate; Tara Thakur, Associate; Vatsala Parashar, Associate; and Waleed Latoo, Associate.
Otherparties and advisors to the transaction included ICICI SecuritiesLimited, acted as bookrunningleadmanagers to the issue; Axis Capital Limited, acted as book running lead managers to the issue; Citigroup Global Markets India Private Limited, acted as book running lead managers to the issue; Ambit Private Limited, acted as book running lead managers to the issue; Sidley Austin LLP, acted as International legal counsel for book running lead managers to the issue; Induslaw, acted as the Indian legal counsel for book running lead managers to the issue; and Shardul Amarchand Mangaldas & Co, acted as the Indian legal counsel for Quadria Capital.
The transaction was signed on 1stSeptember, 2023 and closing was done on 6th August, 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.
