Cyril Amarchand Mangaldas (CAM), Shardul Amarchand Mangaldas & Co (SAM), Trilegal and Sidley Austin advised parties on the USD821 million initial public offering (IPO) of tech-driven eyewear company Lenskart Solutions on 含羞草社区 BSE and NSE.
CAM advised Lenskart Solutions and the company’s promoters, Peyush Bansal, Neha Bansal, Amit Chaudhary and Sumeet Kapahi.
“Working on the Lenskart IPO with the company and the promoters was a unique experience. It is one of the few Indian multinationals, which is direct to consumer, with operations in India and many international markets,” said Yash Ashar, lead partner for CAM, in an exclusive interview with India Business Law Journal.
The offer comprised a fresh issue of 53,501,096 equity shares valued at INR21.5 billion, and an offer for sale of 127,562,573 existing stock held by certain shareholders, including the promoters, worth INR51.28 billion.
Ashar co-led the CAM transaction team with partner Aashima Johur and senior associate Priyanka Khetwal, with the assistance of associates Aditya Singh, Dhawal Nirash, Rishi Nandkeolyar, Kanika Bhakhna, Gaurav Lalwani and Abhirup Manna.
The capital markets team advising the promoters included partner Gokul Rajan, principal associate Chinar Gupta and associate Vatsala Parashar. Trilegal acted as Indian legal counsel for the selling shareholders.
SAM advised the bookrunning lead managers, Kotak Mahindra Capital, Morgan Stanley India, Avendus Capital, Citigroup Global Markets India, Axis Capital and Intensive Fiscal Services. Sidley Austin acted as international legal counsel.
SAM partner Prashant Gupta led the team, which included partner Sayantan Dutta, senior associate Ritika Khare, and associates Rishika Kharbanda and Aryan Singh.
