JSA Advocates & Solicitors advised Raajmarg InvIT and Raajmarg Infra Investment Managers (sponsored by NHAI) on its INR 6000 crore IPO. Shardul Amarchand Mangaldas & Co. acted as the legal counsel to the book running lead managers on this transaction.
SBI Capital Markets, ICICI Securities, Axis Capital, Motilal Oswal Investment Advisors are the BRLMs in connection with the initial public offering of units by the company.
This IPO marks the largest in India’s road sector, witnessed an oversubscription of nearly 14 times and involved the listing of units of Raajmarg Infra Investment Trust on BSE Limited and the National Stock Exchange of India Limited.
The proceeds from the IPO are proposed to be utilised towards acquisition of road assets from NHAI, debt repayment, and general corporate purposes.
JSA also assisted in setting up the InvIT and its Investment Manager. As part of the deal, the InvIT will acquire concession rights for five road assets from NHAI through a mix of equity and debt.
JSA’s transaction team was led by partner Arka Mookerjee, with support from partner Pracheta Bhattacharya, principal associate Sourav Modi, and associates Jeebitesh Bhattacharya, Bhavna Sancheti, Ayushi Pandit, Aditya Shendye, Palak Karundia, Bhuvnesh Kumar and Sharad Panwar.
SAM’s transaction team was led by partners Nikhil Naredi, and Rohit Tiwari, with support from principal associate Saloni Tyagi, associates Pritha Bhangale and Shruti Maheshwari.
