Cyril Amarchand Mangaldas Advised Sobha Limited On ₹19,990.28 Million Rights Issuance Of Partly Paid-Up Equity Shares
Cyril Amarchand Mangaldas Advised Sobha Limited On ₹19,990.28 Million Rights Issuance Of Partly Paid-Up Equity Shares
Cyril Amarchand Mangaldas (CAM) advised Sobha Limited (Company) in it’s fast-track rights issue of 12,107,981 partly paid-up equity shares, aggregating to ₹19,990.28 million (the Issue). The Issue was undertaken by the Company in accordance with Regulation 99 and Part B of Schedule VI of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. The letter of offer was filed with SEBI and the Stock Exchanges on June 12, 2024. The Issue was subscribed 1.4x times.
CAM played crucial role, provided comprehensive legal counsel and strategic guidance to ensure the successful execution of the transaction.
The Capital Markets team of Cyril Amarchand Mangaldas advised on the matter. The transaction was led by Yash Ashar, Senior Partner; Ramanuj Kumar, Partner & Co-Head - Projects (Energy & Energy Transition); with support from Ayana Banerjee, Associate; and Zeb Burk, Associate.
Other parties and advisors to the transaction included JM Financial Limited, acted as book running lead manager to the issue; BOB Capital Markets Limited, acted as book running lead manager to the issue; Hogan Lovells Lee & Lee, acted as international legal counsel for book running lead managers.
The transaction was signed on 19th December and closing was done on 19th July, 2024.
