Cyril Amarchand Mangaldas acted as the Indian legal counsel to the book running lead managers on the initial public offering by Billionbrains Garage Ventures Limited (the “Company”) of 663,230,051 equity shares aggregating to approximately Rs. 66,230.01 million (the “Offer”). The Offer comprised a fresh issue of 106,000,000 equity shares aggregating to approximately Rs. 10,600.00 million, and an offer for sale of 557,230,051 equity shares by certain selling shareholders aggregating to approximately Rs. 55,723.01 million.
The book running lead managers to the Offer were Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited, Citigroup Global Markets India Private Limited, Axis Capital Limited and Motilal Oswal Investment Advisors Limited.
The Offer opened on Tuesday, November 4, 2025 and closed on Friday, November 7, 2025, and received an overall subscription of 17.60 times, with the portion reserved for qualified institutional buyers being subscribed 22.02 times. The equity shares of the Company commenced trading on the stock exchanges on Wednesday, November 12, 2025.
The Company is a direct-to-customer digital investment platform that provides wealth creation opportunities to customers through multiple financial products and services.
The transaction team was led by Manan Lahoty, Partner – (Head – Capital Markets); and Gayathri Ramachandran, Partner; with assistance from Akash Joshi, Senior Associate; Vishesh Jain, Associate; Anna Kallivayalil, Associate; Dhruv Sharma, Associate; Zubin Ronnie, Associate; and Khadri Mohammed, Associate.