Cyril Amarchand Mangaldas has advised Powerica on it’s INR 1,100 crore IPO of equity shares which comprised a fresh issue aggregating to INR 700 crore and an offer for sale by promoter selling shareholders aggregating to INR 400 crore. Trilegal advised the book running lead managers on this IPO.
ICICI Securities, IIFL Capital Services, and Nuvama Wealth Management were the BRLM’s of the deal.
The company is expected to utilise the proceeds from the fresh issue towards funding capital expenditure for expanding manufacturing capacity, meeting working capital requirements, and supporting general corporate purposes.
CAM’s transaction team consisted of senior partner Yash J Ashar, partner, regional co-head-capital markets-west Ravi Dubey, with support from principal associate Mansi Jhaveri and associates Abishek Sankar, Arikta Shetty, Divyanshu Singh, Akshita Dhawan, Nikshetaa Jain and Pooja Rajawat.
Trilegal’s Capital Markets Team advising on the matter was led by partners Bhakta Patnaik and Albin Thomas and supported by counsel Bhargavi Mahajan, associates Janhavi Shah, Tushar Chitlangia, Snehal Kaushal and Avni Mishra.
