Cyril Amarchand Mangaldas acted as the legal counsel to the joint global coordinators and book running lead managers (JGC-BRLMs) in relation to a Qualified Institutions Placement (QIP) by Info Edge Limited (Info Edge). The JGC-BRLMs were Credit Suisse Securities (India) Private Limited, Goldman Sachs (India) Securities Private Limited, IIFL Securities Limited, and J.P. Morgan India Private Limited.
Info Edge is one of the key players in the online classifieds industry in India, operating through popular platforms such as www.naukri.com, www.99acres.com, and www.jeevansaathi.com, and with significant investments in Zomato Private Limited (Zomato), and Etechaces Marketing and Consulting Private Limited (PolicyBazaar and PaisaBazaar).
The Capital Markets Practice of Cyril Amarchand Mangaldas advised JGC-BRLMs on the Transaction. The Transaction team was led by Yash Ashar, Partner & Head – Capital Markets; and Gokul Rajan, Partner; with support from Shiv Bhargava, Senior Associate; Parth Desai, Associate; Shweta Agrawal, Associate; and Aniran Ghoshal, Associate.
As a part of the QIP transaction, 6,067,961 equity shares of Info Edge were issued, at a face value of INR 10 (Equity Shares) at a price of INR 3,090 per Equity Share, including a premium of INR 3,080 per Equity Share, aggregating to approximately INR 1875 crore.
Other parties involved in this Transaction included:
Credit Suisse Securities (India) Private Limited, Goldman Sachs (India) Securities Private Limited, IIFL Securities Limited and J.P. Morgan India Private Limited (acted as the joint-global coordinators and the book running lead managers to the Issue (JGC-BRLMs))
Latham & Watkins LLP (acted as the international legal counsel to the JGC-BRLMs)
The Transaction was launched on August 4, 2020 and concluded on August 7, 2020.
About Cyril Amarchand Mangaldas
Cyril Amarchand Mangaldas takes forward the values going back 103 years, of the erstwhile Amarchand & Mangaldas & Suresh A. Shroff & Co., whose pre-eminence, experience and reputation of almost a century has been unparalleled in the Indian legal fraternity. Tracing its professional lineage to 1917, the Firm of Cyril Amarchand Mangaldas is now the largest full-service law firm in India, with over 750 lawyers including over 141 partners, and offices in India’s key business centres at Mumbai, New Delhi, Bengaluru, Hyderabad, Chennai and Ahmedabad. The Firm advises a large, and varied client base that includes domestic and foreign commercial enterprises, financial institutions, private equity funds, venture capital funds, start-ups and governmental and regulatory bodies.
The firm, Cyril Amarchand Mangaldas, was recently awarded with “India – Firm of the Year” at the AsiaLaw Regional Awards 2019 and “India Deal Firm of the Year” at the In-House Community Counsels of the Year Awards 2019. The firm was also named as the “Most Innovative National Law Firm of the Year – India for 2018” at the IFLR Asia Awards, having also been successful in winning the prestigious & coveted “National Law Firm of the Year, 2018 for India” at the Chambers Asia-Pacific Awards. The firm was also voted as the “Employer of Choice for 2018” from India, by the Asian Legal Business, now 4 years in a row, building upon the several awards that the erstwhile Amarchand & Mangaldas & Suresh A. Shroff & Co. had won in the past.