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The IPO is the largest public offering in India in 2026 to date and marks a significant milestone for the Indian capital markets. The equity shares were listed on the stock exchanges on 21 July 2026.
The aggregate proceeds to Amundi and SBI were INR 116.75 billion (approx. US$ 1.21 billion), with INR 97.95 billion (approx. US$ 1.02 billion) raised in the IPO and INR 18.80 billion (approx. US$ 195.25 million) in the pre-IPO secondary sales.
The issue was priced at a 2.76% premium to the floor price determined in accordance with applicable law and saw participation from marquee institutional investors, including ADIA and affiliates of mutual funds and insurance companies such as ICICI Prudential Life Insurance, HDFC Life Insurance, LIC Mutual Fund, Aditya Birla Sun Life Mutual Fund, Axis Mutual Fund and HSBC Mutual Fund, among others.
Delhi High Court observes that NSE is a recognised stock exchange performing vital public functions, not an ordinary commercial venture. But whether its MD & CEO, by virtue of that office, qualifies as a “public servant” under Section 2(c)(viii) of the Prevention of Corruption Act is a mixed question of fact and law that must be determined on evidence at trial.
The QIP was undertaken to ensure compliance with the minimum public shareholding as prescribed under the Securities Contracts (Regulations) Rules, 1957.
The proceeds of the QIP are proposed to be utilized towards re-payment and /or prepayment of certain outstanding borrowings of the Company and certain of its subsidiaries, and general corporate purposes.
Turtlemint is a tech-enabled insurance distribution platform that connects customers, insurance advisors and insurers, offering retail insurance products and other financial products on its platform.
The proceeds of the QIP are proposed to be utilized towards re-payment and /or prepayment of certain outstanding borrowings of the Company and certain of its subsidiaries, and general corporate purposes.
SAM acts as Domestic Legal Counsel to Craftsman Automation Ltd. on its ₹2,000 Crore Qualified Institutions Placement
This transaction represents the Company’s third significant capital markets fundraising exercise, following its initial public offering in 2021 and an earlier QIP in 2024, underscoring continued investor confidence in the Company’s business and growth strategy.
CAM advises BNP Paribas and J.P. Morgan on sale of shares of DOMS Industries by F.I.L.A. Fabbrica Italiana Lapis Ed Affini S.p.A.
The Seller has sold 4,248,184 equity shares of the Company (approx. 7.00% of the equity share capital of the Company) for an aggregate consideration of INR 9,347.43 million on June 17, 2026.
Cyril Amarchand Mangaldas is advising the National Stock Exchange of India Limited on its proposed IPO, involving an offer for sale by certain existing shareholders and one of India’s most significant capital markets transactions.
Cyril Amarchand Mangaldas is advising Jio Platforms Ltd. on its proposed initial public offering, acting as legal counsel on one of India’s significant anticipated capital markets transactions.
Emphasizing investor protection and market transparency, the Supreme Court ruled that the unlawful diversion of preferential issue proceeds could not be legitimized through subsequent shareholder ratification.
by Namita Shetty* and Bharat Harne**
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