Cyril Amarchand Mangaldas Advised Akums Drugs And Pharmaceuticals On ₹18,567.37 Million IPO
Cyril Amarchand Mangaldas Advised Akums Drugs And Pharmaceuticals On ₹18,567.37 Million IPO
Cyril Amarchand Mangaldas (CAM) advised Akums Drugs and Pharmaceuticals Limited (the Company) as its legal counsel as to Indian law on the initial public offering of 27,368,151 equity shares (Equity Shares) aggregating to INR 18,567.37 million (the Offer). The Offer consisted of a fresh issue of 10,037,716 Equity Shares aggregating to INR 6,800 million and an offer for sale of 17,330,435 Equity Shares aggregating to INR 11,767.37 million by the Promoters of the Company and Ruby QC Investment Holdings Pte. Ltd (Quadria Capital). The Equity Shares commenced trading on BSE Limited and National Stock Exchange of India Limited on August 6, 2024.
The Offer received overall subscription of close to 63 times, with the portion reserved for qualified institutional buyers subscribed more than 90 times.
CAM’s role encompassed advising the Company on regulatory compliance, preparing necessary documentation, and ensuring the smooth execution of the IPO process.
The Capital Markets team of Cyril Amarchand Mangaldas advised on the matter. The transaction was led by Yash Ashar, Senior Partner; Gokul Rajan, Partner & Regional Head Markets Practice (Northern Region); with support from Nayan Jain, Principal Associate; Chinar Gupta, Senior Associate; Rajshree Agarwal, Associate; Shreya Jain, Associate; Tara Thakur, Associate; Vatsala Parashar, Associate; and Waleed Latoo, Associate.
Other parties and advisors to the transaction included ICICI Securities Limited, Axis Capital Limited, Citigroup Global Markets India Private Limited, and Ambit Private Limited, all acting as book running lead managers to the issue; Sidley Austin LLP, as International legal counsel for book running lead managers to the issue; Induslaw, as the Indian legal counsel for book running lead managers to the issue; and Shardul Amarchand Mangaldas & Co, as the Indian legal counsel for Quadria Capital.
The transaction was signed on September 1, 2023, and closing was done on August 6, 2024.
