Cyril Amarchand Mangaldas has advised JSW One Platforms Limited on its proposed initial public offering aggregating up to INR 3,054.01 crore. Trilegal is advising Mitsui & Co., Ltd., a selling shareholder, while Khaitan & Co is advising the book running lead managers on the issue.
The book running lead managers on this IPO include JM Financial Limited, Kotak Mahindra Capital Company Limited, ICICI Securities Limited, SBI Capital Markets Limited and PL Capital Markets Private Limited.
The proposed IPO comprises a fresh issue of equity shares worth up to INR 1,300 crore and an offer for sale of shares worth up to INR 1,754.01 crore by existing shareholders. The OFS comprises shares worth up to INR 811 crore to be sold by JSW Steel, INR 123 crore by JSW Cement and INR 820.01 crore by Mitsui & Co.
The company proposes to use INR 125 crore of the net proceeds from the fresh issue towards marketing and brand-building activities of its subsidiary JSW One Distribution. Another INR 500 crore is proposed to be invested in JSW One Finance to augment its capital base and meet its future capital requirements. Up to INR 350 crore is proposed to be used towards technology and platform development, with the balance earmarked for general corporate purposes.
The proposed IPO is subject to applicable regulatory approvals and other customary conditions.
The CAM transaction team includes Yash J. Ashar, Senior Partner; Manan Lahoty, Partner and Head, Capital Markets; Devaki Mankad, Partner and Regional Co-Head, Capital Markets, West; Tanushri More and Rishav Buxi, Principal Associates; Adwait Deshmukh and Urmil Shah, Senior Associates; and Associates Anomitra Debnath, Nikshetaa Jain, Rishika Saraswat, Mitali Mangalam and Tanvi Agarwal.
The CAM team was also assisted by Sindhushri Badarinath, Partner; Dipti Khatri, Principal Associate; and Anushka Gurnani, Associate, on ESOP-related matters, and Soumya Srivastava, Partner; Shashank Ugrankar, Principal Associate; and Ishika Dube, Associate, on shareholders’ and inter-se agreement-related matters.
The Trilegal Capital Markets team advising Mitsui & Co. is led by Abhinav Maker, Partner, with support from Debarpita Pande, Senior Associate, and Mrinal Kumar, Associate. The Corporate team was led by Charandeep Kaur, Partner, with support from Shivesh Aggarwal, Counsel.
The Khaitan & Co. transaction team comprises Sudhir Bassi, Executive Director; Madhur Kohli and Aayush Mohata, Partners; Sarjana Das and Kanchi Malhotra, Senior Associates; and Associates Mythri Murali, Mehar Sharma and Vedika Jhunjhunwala.
