Trilegal Advised Wockhardt On ₹4,800 Million QIP

Trilegal Advised Wockhardt On ₹4,800 Million QIP

Trilegal, advised Wockhardt Limited (Wockhardt) in its Qualified Institutions Placement (QIP) of equity shares valued INR 4,800 million. Wockhardt, a prominent research-based pharmaceutical company based in India, maintains a global presence, operating in approximately 45 countries and managing 12 manufacturing facilities.

The successful QIP enabled Wockhardt to raise Rs 480 crore, with the approval of the capital raising committee for the issue and allotment of 92,85,163 equity shares to eligible Qualified Institutional Buyers (QIBs). These shares were allotted at an issue price of Rs. 517 each, constituting a 5% discount to the QIP floor price of Rs 544.02 per share. The subscription window for the QIP remained open from March 20 to March 26, garnering significant interest from investors.

The proceeds generated from the QIP will be strategically allocated, including towards the repayment of borrowings and the funding of pivotal clinical trials and research and development activities focused on pioneering antibiotics targeting resistant organisms.

DAM Capital Advisors Limited acted as the placement agent for the QIP, attracting participation from esteemed investors such as ICICI Prudential, Tata Indian Opportunities Fund, HDFC Mutual Fund, and Societe Generale.

Under the guidance of Capital Markets Partner Richa Choudhary, the Trilegal team, comprising lawyers Avanti Kale, Counsel; Maitreya Rajurkar, Senior Associate; Sanya Chaudhari, Pooja Tada, and Archit Jain, Associates, played a crucial role in ensuring the successful execution of Wockhardt's QIP. Their expertise and guidance significantly contributed to the accomplishment of this transaction.

Trilegal's collaboration with Wockhardt underscores its commitment to delivering exceptional legal services and facilitating strategic transactions in the corporate landscape. The successful execution of the QIP reflects not only Wockhardt's growth trajectory but also Trilegal's expertise in navigating complex legal matters.