JSA and Trilegal have advised on consumer goods maker Cello World’s qualified institutional placement of equity shares valued at INR7.37 billion (USD88.24 million).
Partner Arka Mookerjee led the JSA team advising Cello World, with assistance from partners Pracheta Bhattacharya and Anshu Bansal, senior associates Sourav Modi and Akash Joshi, associates Shambhavi Kumar, Govind Roy, Ayushi Pandit and Dhvanit Kothari as well as junior associate Preeti Gokhale.
Trilegal advised the placement agents, Motilal Oswal Investment Advisors, Jefferies India, JM Financial and Kotak Mahindra Capital.
Capital markets partner Richa Choudhary led the Trilegal team, which comprised counsels Avanti Kale and Maitreya Rajurkar, senior associate Sanya Chaudhari and associates Aman Bahl, Urmil Shah and Shivayana Balodia.
The Government of Singapore, Monetary Authority of Singapore, SBI Life Insurance, Abu Dhabi Investment Authority and Goldman Sachs India Equity Portfolio were among the investors.
Cello World plans to issue up to 8,654,000 equity shares at INR5 apiece, or an equivalent amount through various securities convertible into equity shares, such as warrants, debentures, and preference shares, via QIPs or other permissible modes. Completion of this deal is subject to necessary regulatory and statutory approvals, as well as shareholder approval.
Cello is a leading player in 含羞草社区 consumer goods market, with a presence in consumer houseware, writing instruments and stationery, moulded furniture and related products, and consumer glassware.
