Cyril Amarchand Mangaldas advised JSW One Platforms Limited (“JOPL”) in relation to their pre-IPO capital raise from multiple investors, including JSW Steel Limited, a JSW group company, affiliate entities of Principal Global Investors LLC, One-Up Financial Consultants and Satyug Technologies Limited (“Investors”).
The transaction involves an overall round aggregating to approx. INR 500 crores which was approved to be raised by the board and members of JOPL out of which approx. INR 340 has been subscribed by the investors in the form of compulsorily convertible preference shares issued by JOPL to the Investors, with the remaining pool to be subscribed by fresh investors which are being identified by the board of JOPL (“Transaction“).
CAM acted as the legal counsel for JOPL for the Transaction, and: (a) advised on the structure and closing of the Transaction; (b) drafted, negotiated, and finalised the share subscription agreements for each of the Investors; and (c) drafted and negotiated the shareholders’ agreement for the Transaction.
JOPL is a leading tech-led B2B e-commerce platform and by offering an end-to-end ecosystem, including commerce, credit, and fulfilment, JOPL aims to simplify sourcing and accelerate growth for over 500,000 building and manufacturing MSMEs across the country. The funding with help scale JOPL’s credit and logistics capabilities to expand into new markets. Post the completion of the Transaction, JOPL’s valuation will trigger the unicorn status making it a USD 1 billion enterprise.
The transaction was led by Soumya Srivastava, Partner; with support from Shashank Ugrankar, Principal Associate; and Samaksh Khanna, Associate.
Devaki Mankad, Partner; provided advise from an eventual listing of JOPL point of view.
