Khaitan & Co has advised Molbio Diagnostics on its initial public offering aggregating up to INR 939.70 crore. Cyril Amarchand Mangaldas and Hogan Lovells Cadwalader advised the book-running lead managers (BRLMs) as domestic and international counsel respectively.
The IPO comprised a fresh issue and an offer for sale by certain existing shareholders, including certain promoters and India Business Excellence Fund III, aggregating to INR 9,396.96 million. The BRLMs were Kotak Mahindra Capital Company, IIFL Capital Services Limited, Jefferies India and Motilal Oswal Investment Advisors.
The IPO was subscribed 70.26 times, with the portion reserved for qualified institutional buyers being subscribed 186.39 times.
Khaitan’s transaction team consisted of partners Abhimanyu Bhattacharya, Gautham Srinivas, and Sathvik Ponnappa, principal associate Sanjeev Chowdhary, senior associate Vaishnavi Gupta, and associates Mainak Pani and Shambhavi Gautam.
CAM’s transaction team was led by senior partner Yash Ashar, and partner Priyadarshini Rao, with assistance from senior associate Raksha Raina, and associates Prakhar Jain, Janhavi Deshmukh, Zubin Ronnie, Aria Sheth and Namita Kaushik.
The Hogan Lovells Cadwalader capital markets team was led by head of the India practice and Dubai office managing partner Biswajit Chatterjee, with support from counsel Varun Jetly and senior associate Aditya Rajput.
