Cyril Amarchand Mangaldas advised the book running lead managers (BRLMs), namely, Kotak Mahindra Capital Company Limited, Axis Capital Limited, IIFL Securities Limited, Jefferies India Private Limited, and J.P. Morgan India Private Limited on the initial public offering (IPO) of Mankind Pharma Limited. This was India’s largest IPO so far in 2023 and the third largest IPO since 2022.
The Capital Markets Practice of Cyril Amarchand Mangaldas which advised the BRLMs was led by Yash Ashar, Partner & Head Capital Markets; Gokul Rajan, Partner & Regional Head Markets Practice Northern Region; with support from Nayan Jain, Principal Associate; Chinar Gupta, Senior Associate; Shachi Singh, Associate; Rajshree Agarwal, Associate; and Aviral Singhal, Associate.
The IPO comprised an offer for sale of 40,058,844 equity shares aggregating to Rs. 4,326 crores by the (i) promoter selling shareholders, namely, Ramesh Juneja, Rajeev Juneja, and Sheetal Arora; and (ii) investor selling shareholders, namely, (a) Cairnhill CIPEF Limited and Cairnhill CGPE Limited (which are affiliated to the Capital International Group), and (b) Beige Limited and Link Investment Trust (which are affiliated to ChrysCapital).
Other parties to the transaction included Sidley Austin LLP, which acted as international legal counsel to the BRLMs.
The transaction was signed on April 28, 2023 and closed on May 4, 2023.
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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. With 1000 lawyers and 170 Partners, the Firm is the largest full-service law firm in India and offices in key business centres at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City and also in Singapore.
The Firm recently received “Innovation in Advancing Markets” award at the FT Innovative Lawyers Asia Pacific 2022 Awards and the “National Law Firm of the Year: India” award at the IFLR Asia Pacific 2022 awards ceremony. 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 2021.
