Cyril Amarchand Mangaldas advised JM Financial Institutional Securities Limited (JM Financial), the sole broker, on the block sale of shares of Sona BLW Precision Forgings Limited (Sona Forgings), resulting in exit of Blackstone Group from Sona Forgings, for a reported aggregate value of INR 4,917 crore (approx.).
The Capital Markets Practice of Cyril Amarchand Mangaldas advised JM Financial on the transaction. The transaction team was led by Abhinav Kumar, Partner & Regional Head Markets Practice (West); with support from Anuj Pethia, Consultant; and Vartika Bhatnagar, Associate.
As a part of the transaction,JM Financial acted as the sole broker in the block trade involving sale of 11,99,25,641 equity shares of Sona Forgings by Singapore VII Topco III Pte. Limited (a Blackstone entity). The transaction involved sale of entire stake held by Blackstone Group (20.5%) in Sona Forgings.
The Transaction was signed on 12th March 2023; and closed on 14th March2023.
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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 160 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.
