Cyril Amarchand Mangaldas advises on IPO of India Shelter Finance Corporation Limited
02.02.2024 - 13:21:33
Business Wire IndiaCyril Amarchand Mangaldas advised book running lead managers (ICICI Securities Limited, Citigroup Global Markets India Private Limited, Kotak Mahindra Capital Company Limited, Ambit Private Limited) in the issuance of IPO of India Shelter Finance Corporation Limited. Debut of 24,340,768 equity shares of face value of Rs. 5 each (“Equity Shares”) of India Shelter Finance Corporation Limited (“Company”) for cash at a price of Rs. 493 per Equity Share of face value of Rs. 5 each including a securities premium of Rs. 488 per Equity Share ("Offer Price") aggregating to Rs. 12,000 million.
Partner & Head Capital Markets; Reuben Chacko, Partner &Regional Co-head Markets Practice (Southern Region); with support from Amitpal Singh, Principal Associate; Vinaya Dhruv, Senior Associate; Rajshree Agarwal, Associate; Prajna Kariappa, Associate; Achyutha G M, Associate; Anna Kallivayalil, Associate; and Rohit Raj, Associate.
The IPO of India Shelter Finance Corporation Limited comprises of a fresh issue of 16,227,180 Equity Shares of face value of Rs. 5 each by our Company aggregating to Rs. 8,000 million ("Fresh Issue") and an offer for sale by Catalyst Trusteeship Limited (As a trustee of MICP Trust) of 405 Equity Shares of face value of Rs. 5 each aggregating to Rs. 0.20 million, by Catalyst Trusteeship Limited (As a trustee of Madison India Opportunities Trust Fund) of 3,474,442 Equity Shares of face value of Rs. 5 each aggregating to Rs. 1,712.90 million, by Madison India Opportunities IV of 1,104,056 Equity Shares of face value of Rs. 5 each aggregating to Rs. 544.30 million, by Mio Starrock of 644,219 Equity Shares of face value of Rs. 5 each aggregating to Rs. 317.60 million, and by Nexus Ventures III, Ltd. of 2,890,466 Equity Shares of face value of Rs. 5 each aggregating to Rs. 1,425 million (collectively, the "Investor Selling Shareholders") ("Offer for Sale" or “OFS”). The Offer constitutes 22.74% of the post-Offer paid up equity share capital of the Company.
Other advisors to the transaction included ICICI Securities Limited, Citigroup Global Markets India Private Limited, Kotak Mahindra Capital Company Limited, Ambit Private Limited, (acted as book running lead manager to the issue); Sidley Austin LLP, acted as International legal counsel for the book running lead managers; KFin Technologies Limited, acted as registrar; T R Chadha & Co LLP, acted as auditor.
The Transaction was signed on 16th December 2023 and closed on 20th December 2023.
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 and also in Singapore.
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.
Partner & Head Capital Markets; Reuben Chacko, Partner &Regional Co-head Markets Practice (Southern Region); with support from Amitpal Singh, Principal Associate; Vinaya Dhruv, Senior Associate; Rajshree Agarwal, Associate; Prajna Kariappa, Associate; Achyutha G M, Associate; Anna Kallivayalil, Associate; and Rohit Raj, Associate.
The IPO of India Shelter Finance Corporation Limited comprises of a fresh issue of 16,227,180 Equity Shares of face value of Rs. 5 each by our Company aggregating to Rs. 8,000 million ("Fresh Issue") and an offer for sale by Catalyst Trusteeship Limited (As a trustee of MICP Trust) of 405 Equity Shares of face value of Rs. 5 each aggregating to Rs. 0.20 million, by Catalyst Trusteeship Limited (As a trustee of Madison India Opportunities Trust Fund) of 3,474,442 Equity Shares of face value of Rs. 5 each aggregating to Rs. 1,712.90 million, by Madison India Opportunities IV of 1,104,056 Equity Shares of face value of Rs. 5 each aggregating to Rs. 544.30 million, by Mio Starrock of 644,219 Equity Shares of face value of Rs. 5 each aggregating to Rs. 317.60 million, and by Nexus Ventures III, Ltd. of 2,890,466 Equity Shares of face value of Rs. 5 each aggregating to Rs. 1,425 million (collectively, the "Investor Selling Shareholders") ("Offer for Sale" or “OFS”). The Offer constitutes 22.74% of the post-Offer paid up equity share capital of the Company.
Other advisors to the transaction included ICICI Securities Limited, Citigroup Global Markets India Private Limited, Kotak Mahindra Capital Company Limited, Ambit Private Limited, (acted as book running lead manager to the issue); Sidley Austin LLP, acted as International legal counsel for the book running lead managers; KFin Technologies Limited, acted as registrar; T R Chadha & Co LLP, acted as auditor.
The Transaction was signed on 16th December 2023 and closed on 20th December 2023.
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 and also in Singapore.
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.
