Cyril Amarchand Mangaldas Advised Capital Small Finance Bank In ₹5,230.70 Million IPO
Cyril Amarchand Mangaldas Advised Capital Small Finance Bank In ₹5,230.70 Million IPO
Cyril Amarchand Mangaldas (CAM) has advised Capital Small Finance Bank Limited (Bank) on its recent successful initial public offering (IPO). The IPO comprised a fresh issue and an offer for sale, with an aggregate value of ₹5,230.70 million.
Under the guidance of CAM, the IPO involved the issuance of 11,176,713 equity shares of face value ₹10 each, at a price of ₹468 per Equity Share, including a share premium of ₹458 per Equity Share. This offering, termed The Offer, included a fresh issue of 9,615,384 Equity Shares amounting to ₹4,500.00 million and an offer for sale of 1,561,329 Equity Shares worth ₹730.70 million.
The selling shareholders involved in the offer included Oman India Joint Investment Fund II (OIJIF II), Amicus Capital Private Equity I LLP (ACPE), Amicus Capital Partners India Fund I (ACPIF), and certain other individuals listed in the prospectus. Specifically, OIJIF II offered 836,728 Equity Shares aggregating to ₹391.59 million, ACPE offered 151,153 Equity Shares aggregating to ₹70.74 million, and ACPIF offered 17,544 Equity Shares aggregating to ₹8.21 million. Additionally, 555,904 Equity Shares aggregating to ₹260.16 million were offered by certain persons listed in the prospectus, referred to as the ‘Other Selling Shareholders.’
CAM's Capital Markets team, led by Gokul Rajan, Partner & Regional Head Markets Practice (Northern Region), spearheaded the transaction. The team comprised Amitpal Singh, Principal Associate; Aniran Ghoshal, Senior Associate; Priyanka Khetwal, Associate; Rajshree Agarwal, Associate; and Nidhi Singh, Associate.
Additionally, Rutu Gandhi, Partner provided expert guidance on the regulatory aspects of the IPO, ensuring compliance with all relevant regulations.
Key advisors to the transaction included Nuvama Wealth Management Limited, DAM Capital Advisors Limited, and Equirus Capital Private Limited, who acted as book running lead managers. M/s. Crawford Bayley & Co. Advocates and Solicitors served as Indian legal counsel for Selling Shareholders, while Duane Morris LLP acted as International legal counsel for book running lead managers. Link Intime India Private Limited acted as registrar for the IPO.
The transaction, which was signed on February 10, 2024, and closed on February 12, 2024, marks a significant milestone for Capital Small Finance Bank Limited, facilitated by the expertise and guidance provided by Cyril Amarchand Mangaldas.
