Shardul Amarchand Mangaldas & Co. has acted as legal counsel to Ather Energy, electric two-wheeler manufacturers, in connection with its Qualified Institutions Placement (QIP) aggregating INR 1,300 crore. Trilegal advised the lead managers on this transaction.
The lead managers on this QIP included HSBC Securities and Capital Markets (India), Axis Capital, Nomura Financial Advisory and Securities (India), BofA Securities India, Goldman Sachs (India) Securities, Kotak Mahindra Capital Company, Ambit, Avendus Capital, BNP Paribas, CLSA India, Emkay Global Financial Services, and Motilal Oswal Investment Advisors.
The QIP consisted of allotment of 1,08,15,307 equity shares each at a price of INR 1,202 per equity share, including a premium of INR 1,201 per equity share. The issue was priced at a 2.76 percent premium to the floor price determined in accordance with applicable law.
SAM’s transaction team consisted of national practice head – capital markets Prashant Gupta, partner Ruth Chenchiah, senior associate Rishika Sharma, and associate Aditya Krishnan.
Trilegal’s capital markets team advising on the mandate was led by partner Vijay Parthasarathi, and comprised counsel Saurav Das, senior associates Vedansh Batwara and Prajna Kariappa, associates Jasmine Manekshaw, Vansh Dhoka, and trainee associate Pratik Basistha.
