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This is the second largest IPO in India by India’s largest stock exchange and the world’s largest multi asset class exchange. The issue size was INR 226 billion (approximately USD 2.36 billion).
The mandate involved advising on a broad range of regulatory, disclosure, diligence, and transaction execution matters. The IPO is one of the most closely anticipated listings in Indian capital markets and is the second largest initial public offering, to date.
The Firm also advised the Selling Shareholders namely, O P Munjal Holdings Limited and Hero Cycles Limited on their participation in the offer for sale component of the Offer.
The S&R team was led by partners Juhi Singh and Shiv Bhargava, and included associates Anmol Kanodia, Abhishek Gupta, Ishika Patnaik, Vasundhara Gupta and Sahsransh Pandey.
A portion of this QIP’s proceeds is proposed to be used for financing capital expenditure towards defence equipment capabilities. SAM also previously advised the lead managers on Bharat Forge’s ₹1,650 crore QIP in December 2024.
The transaction was led by Aashima Johur, Partner; with support from Medhashree Verma, Senior Associate.
The IPO comprised of an offer for sale by institutional investors including Avenue India, Federal Bank, Lathe Investment and SBI, aggregating to INR 7,350 million
The S&R team was led by partner Jabarati Chandra, and included associates Akshaya Rengan, Thambiah Jayaram and Pooja Menon.
This transaction was Blackstone’s first OFS in India and was also the largest OFS in India’s private sector.
This Company is the first to be listed in the segment of growing multi-brand luxury omni-channel fashion platform in India. The equity shares of the Company commenced listing and trading on NSE and BSE on September 7, 2026.
The transaction was led by Aashima Johur, Partner; with support from Medhashree Verma, Senior Associate.
Fox & Mandal acted as sole legal counsel to Priority Jewels Limited and advised the Company on legal due diligence and the drafting of the offer document in connection with the IPO.
Valued at approximately ₹3,030 crore (US$320 million), the sale was undertaken to facilitate compliance with the minimum public shareholding requirements prescribed under the Securities Contracts (Regulation) Rules, 1957 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The book running lead managers to the Issue were JM Financial Limited, Axis Capital Limited, IIFL Capital Services Limited (Formerly known as IIFL Securities Limited), SBI Capital Markets Limited and 360 ONE WAM Limited
CAM advised The Great Eastern Shipping Company Limited on its ₹900 crore buyback of fully paid-up equity shares through the open-market stock exchange route
The S&R team was led by partner Jabarati Chandra, and included associate Ayushi Shrivastava.
The transaction also included a pre-IPO INR 0.50 billion secondary sale of equity shares by the selling shareholders.
The transaction is the first IPO by a KKR-promoted company in India.
This is the first IPO by an alternative asset management company in India.
The IPO was oversubscribed 74.21 times overall and the equity shares listed at a premium of approximately 38% over the IPO price.