Cyril Amarchand Mangaldas Advised NDR InvIT Trust on its Inaugural Offering of Units
Cyril Amarchand Mangaldas has advised NDR InvIT Trust's in facilitating inaugural offering of units, marking a significant
Cyril Amarchand Mangaldas Advised NDR InvIT Trust on its Inaugural Offering of Units
Cyril Amarchand Mangaldas (CAM) has advised NDR InvIT Trust's in facilitating inaugural offering of units, marking a significant milestone in the realm of infrastructure investment trusts (InvITs).
The transaction, which unfolded in Mumbai, saw CAM providing legal counsel to NDR InvIT Trust and NDR Warehousing Private Limited, the sponsor of the Trust, on the offering of units through a private placement. The total value of the offer amounted to a substantial Rs. 8,798.02 million, encompassing both a fresh issue totaling Rs. 6,940.71 million and an offer for sale amounting to Rs. 1,857.31 million by the selling unitholders.
Leading the transaction was CAM's Capital Markets team, supported by its General Corporate and Real Estate teams. Yash Ashar, Partner & Head Capital Markets, Kranti Mohan, Partner & Head - REITs and InvITs, and Janhavi Manohar, Partner, spearheaded the endeavor. They were ably assisted by Tanvi Kini, Principal Associate, Saloni Tyagi, Senior Associate, Pragya Gupta, Associate, and Vishesh Jain, Associate.
On the general corporate side, Kota Chandan, Partner, with support from Subhankar Pasalapudi, Principal Associate, and Aditya Gore, Associate, provided valuable insights. Meanwhile, Ashish Jain, Partner, Abhilash Pillai, Partner, and Rishiraj Bhat, Partner, led the real estate-related aspects of the transaction. They were supported by Mamtaj Ansari, Senior Consultant, Karan Sharma, Principal Associate, Urjita Chitnis, Principal Associate, Pooja Ashwin, Consultant, Siddhant Sharma, Senior Associate, Archit Mishra, Senior Associate, Kripa Sankari, Senior Associate, Rohan Shah, Senior Associate, and Rohan Chugh, Associate.
In addition to CAM, other key advisors to the transaction included ICICI Securities Limited, acting as the lead manager to the Offer, Linklaters Singapore Pte. Ltd., providing international legal counsel to the lead manager, and Axis Trustee Services Limited, acting as the trustee of the Trust.
The transaction, which was signed on December 10, 2022, and concluded on February 14, 2024, underscores CAM's commitment to excellence and its pivotal role in facilitating groundbreaking transactions in India's legal landscape