Runwal Developers is planning a INR20 billion (USD240 million) initial public offering on the Bombay Stock Exchange and National Stock Exchange in India, comprising a fresh issue of shares valued at INR17 billion and the promoter selling shareholder offering INR3 billion of existing stock.
Cyril Amarchand Mangaldas (CAM) acted as domestic legal counsel to Runwal with the team comprised of partners Ravi Dubey and Oishika Dasgupta, principal associate Mansi Jhaveri, as well as associates Aniruddh Saraswat, Arjun Badola, Eashaan Agrawal, Shivam Punjani and Riya Kumar.
Trilegal advised the bookrunning lead managers (BRLMs) — ICICI Securities, BoB Capital Markets, IIFL Capital Services and JM Financial.
Partners Bhakta Patnaik and Albin Thomas led the Trilegal team, with the support of senior associate Arsh Sinha, and associates Janhavi Shah, Kavya Krishnaswamy, Manasi Barve and Mohak Agarwal.
Hogan Lovells acted as international counsel to the BRLMs, with Biswajit Chatterjee, managing partner for the Dubai office, led the team. Counsel Kaustubh George and associate Sanjana Ravjiani assisted.
Runwal Developers is a leading real estate development company with a focus on lifestyle-oriented projects, and a diversified portfolio spanning residential, commercial and organised retail developments across Maharashtra.
