Cyril Amarchand Mangaldas(CAM) advised IndegeneLimited (“Company”) and Manish Gupta,Dr. Rajesh Bhaskaran Nair, andAnitaNair(the “Individual SellingShareholders”)on the Company’s initial public offering of equity shares aggregating toRs.10,817.59 million. The transaction involved an issuance of 40,766,550 equity shares offacevalue ofRs. 2 each (“Equity Shares”) at a price ofRs. 452 per Equity Share, including a share premium of Rs. 450 per Equity Share, aggregating to Rs. 18,417.59 million comprising a fresh issue of 16,833,818 Equity Shares aggregating to Rs. 7,600 million and an offer for sale of 23,932,732 Equity Shares aggregating to Rs. 10,817.59 million (together, the “Offer”). The Equity Shares commenced trading on the Stock Exchanges on May 13, 2024.
Indegene Limited is the first life sciences technology company to be listed on the stock exchanges ofIndia and the Offer was subscribed over 70 times overall.
CAM provided extensive advisory services to the Company and the Individual Selling Shareholders , on the Offer, including the categorization of the Company as a professionally managed company, disclosures on key performance indicators, reservation of equity shares for subscription by eligible employees and the exemption application filed with SEBIon disclosureoffinancial information related to its group company, amongstothers. Our expertise ensured regulatory compliance and facilitated the smooth execution of the Offer.
The Capital Markets and the General Corporate teams of Cyril Amarchand Mangaldas advised on the matter.
The transaction team representing the Company wasled by Yash Ashar, Partner & Head Capital Markets; Vijay Parthasarathi, Partner& Regional Co-head Markets Practice (Southern Region); Saurav Das, Senior Associate; Vartika Bhatnagar, Associate; Prajna Kariappa, Associate; Anish Meduri, Associate; Anna Kallivayalil, Associate; and Kunal Badesra, Associate.
The transaction team representing the Individual Selling Shareholders was led by Vinay Sirohia, Partner; with support from Tanvi Kini, Principal Associate.
The team led by Bharath Reddy, Partner; Sindhushri Badarinath , Partner; with support from Dipti Khatri, Principal Associate; Simran Jain, Senior Associate Designate; advised on certain employment law and general corporate matters.
Otherparties and advisors to the transaction included KotakMahindraCapitalCompanyLimited,Citigroup Global Markets India Private Limited, J.P. Morgan India Private Limited, J.P. Morgan India Private Limited, Nomura Financial Advisory Securities (India) Private Limited, who acted as book running lead managersto the Offer; Sidley Austin LLP, who acted as the International legal counsel to the book running lead managers; Manian & Rao Chartered Accountants, acted as Chartered Accountants.
The transaction was signed on 30th June, 2022 and closing was done on 13th 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.
